Mon, 12 January
-4.9 C
Yerevan
USD: 381.21 RUB: 4.81 EUR: 443.92 GEL: 141.50 GBP: 511.13

Araratbank ceo predicts lowering interest rates fro loans and deposits in USD

YEREVAN, June 1, /ARKA/. Chief executive officer of Armenian privately-owned Araratbank, Ashot Osipyan, said Monday the interest rate for loans and bank deposits in US Dollars will be lowering.

Speaking to journalists after an annual meeting of the bank’s shareholders, he described the current refinancing rate as ‘optimal.’ He also predicted a full-year inflation rate of 5-7%. According to government data, the inflation in May rose by 1% from April.

Araratbank focuses primarily on micro, small and medium-sized enterprises and retail clients. A 74.1% stake in the bank is owned by Barsegh Beglarian, the owner of Flash petrol trader. EBRD holds 25% plus one share.

According to ARKAs data, on March 31 Araratbank’s assets stood at 41.2 billion Drams, liabilities-at 33 billion Drams, its total capital was worth 8.3 billion Drams, chartered capital was worth 6.1 billion Drams, credit investments-18.9 billion Drams. In the first quarter of this year it earned 304 million Drams in net profits. -0-

spot_img

POPULAR

Armenian banks tighten checks on Russian transactions

Banks in Armenia and Serbia have tightened checks on Russian transactions following Russia's inclusion on the EU's money laundering blacklist, RBC reports, citing lawyers and international business consultants.

Euro  falls against Armenian dram by 3.02 points

The average market exchange rate of the US dollar to the Armenian dram on January 5, 2026, increased by 0.19 points compared to December 30, 2025, to 381.55 drams.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Net inflow of remittances to Armenia from abroad increased by 17.9% in the first 11 months of 2025

The net inflow of cross-border remittances to individuals in Armenia, received from abroad through the Armenian banking system, amounted to $1.32 billion in January-November 2025, compared to $1.12 billion in January-November 2024, according to a report from the Central Bank.

Procedure and conditions for providing cashback on transactions with ArCa cards

Starting January 1, Armenia introduced a 2% cashback system for non-cash payments made with ArCa payment system cards.

LATEST NEWS

spot_imgspot_imgspot_img