Fri, 20 February
2.1 C
Yerevan
USD: 376.82 RUB: 4.90 EUR: 443.25 GEL: 140.90 GBP: 507.65

Borrowers in Armenia increasingly showing favor to national currency

YEREVAN, September 27. /ARKA/. Yuri Gusev, acting CEO of VTB Bank (Armenia) and the chairman of the bank’s directorial board, speaking Thursday at a televised conference involving representatives of VTB Group’s subsidiaries in Armenia, Kazakhstan and Ukraine, said that the population in Armenia has a feeling of another pending global economic crisis which prompts them to shift to their national currency when borrowing money from local banks.

Mikhail Zadornov, VTB24 bank president and chairman of the bank’s board, who spoke at the same teleconference, answering ARKA News Agency’s question, said that VTB Group aims to lending money exactly in national currencies.

“Only this shapes a healthy balance and a healthy business and also shields our retail clients and banks from interest and credit risks,” he said. “We don’t rule out lending in foreign currencies completely, unless it is banned by the law, as is the case in Ukraine, however, we would like lending in foreign currency to drop to an insignificant portion of the overall lending.

VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 69 branches all over Armenia’s territory – the largest branch network in the country. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. -0—

spot_img

POPULAR

Armenian banks’ loan portfolio reached AMD 7.9 trillion in 2025 – Union of Banks of Armenia

The loan portfolio of Armenia's banking system increased to AMD 7.9 trillion by the end of 2025 from AMD 6.4 trillion in the same period of 2024, stated Daniel Azatyan, head of the Union of Banks of Armenia.

Armenia’s banking system is stable, and a positive impact from TRIPP implementation is expected: UBA head

Armenia's banking system is assessed as stable based on stress tests, and banks are reasonably well capitalized. Daniel Azatyan, head of the Union of Banks of Armenia (UBA), stated this in response to a question from ARKA news agency.

Euro fell 2.54 points against the Armenian dram, while the dollar and ruble also declined

The average market exchange rate for the US dollar to the Armenian dram, formed on the Armenian foreign exchange market as of February 19, 2026, fell by 0.74 points compared to February 18, to 376.94 drams.

Euro, dollar and ruble exchange rates against the Armenian dram have increased

The average market exchange rate for the US dollar against the Armenian dram, as of February 18, 2026, increased by 0.86 points compared to February 17, reaching 377.69 drams.

Union of Banks of Armenia: cryptocurrency market is gaining momentum with 2-3 banks planning to obtain licenses

The Armenian cryptocurrency market is gaining momentum: 2-3 banks plan to obtain separate licenses to handle these operations, Daniel Azatyan, head of the Union of Banks of Armenia (UBA), stated in response to a question from ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img