Tue, 17 June
21.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Share of bad credits may fall to before-the-crisis level of 4.5%

YEREVAN, June 23, /ARKA/. The share of bad credits in Armenia’s banking system may fall to before-the-crisis level of 4.5% at the end of the year, a senior official of Armenia’s Central bank said today.

Speaking at a news conference Vahe Vardanian, head of a department in charge of financial policy management, said the share of bad credits late last year comprised 6.5% falling to 5.6% now.

According to him, this figure is set to fall further due to increasing amount of new credits and absence of new bad credits in the last 2-3 months. According to Central Bank’s figures, the share of bad credits in the first half of 2009 rose to 10 percent.

Vahe Vardanian also predicted that the banking system’s full-year income may grow to 20 billion Drams, from 8.4 billion Drams in 2009. In his words, the sector has already secured 8 billion Drams in income this year. The main task of the Central Bank now is to implement a set of measures designed to reduce the dollarziation level, he said.

According to Central Bank’s figures, the dollarziation level dropped in May from April. Particularly, the overall volume of deposits in the national currency, the Dram, increased by 0.1% while deposits in foreign currency drooped by 3.5%. However, in May more loans in foreign currency were extended than in Drams. ($1 – 370.59 Drams).  -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

CBA introduces Master Documentation for Derivatives and Repurchase Transactions in Armenia

The Central Bank of Armenia (CBA), with technical assistance from the European Bank for Reconstruction and Development (EBRD) and financial support from the Japanese government, has introduced master documentation for derivatives and repurchase transactions that is governed by Armenian law.

Central Bank of Armenia will develop a by-law for the implementation of the law “On crypto assets”

The Central Bank of Armenia will begin work on developing a by-law after the adoption of the law "On crypto assets", said the head of the regulator Martin Galstyan, answering a question from the ARKA news agency.

Armenia’s banking system dominates the financial system’s asset structure with a share of 83% and an indicator of 11 trillion drams – head of...

The assets of the banking system continue to make up the overwhelming majority of the financial system's assets - about 83%, or about 11 trillion drams, said the head of the Central Bank of the republic Martin Galstyan, presenting a report on financial stability for the past year.

Euro to Armenian dram exchange rate increased slightly – Central Bank data

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 10, 2025, decreased by 0.29 points compared to June 10 and amounted to 383.25 drams.

LATEST NEWS

spot_imgspot_imgspot_img