YERERVAN, June 3. /ARKA/. Andranik Grigoryan, chief of the Armenian central bank’s division in charge of stability and development of financial system, speaking Monday at a news conference, said the imminent increase in prices for the imported natural gas will not destabilize Armenia’s finance system.
He said that price hikes, as a rule, impact clients’ solvency, but Armenian banks are well-capitalized, and they can afford such risks.
According to ARKA News Agency’s data, Armenian banks’ assets totaled about AMD 2562.7 billion in the first quarter of this year after growing 6.3%, compared with the previous quarter.
Their total capital grew 2.3% to AMD 417.6 billion.
Armenian commercial banks’ capitalization was 16.30% (total capital/total assets) in the 1st Q 2013 against 16.98% in the 4th Q 2012.
On May 14, ArmRosGazprom, the sole importer and distributor of Russian natural gas in Armenia, asked the regulator to revise upward the current tariff for Russian natural gas. It wants to raise the price for consumers using up to 10 thousand cubic meters a month from current 132,000 drams per one thousand cubic meters (including VAT) to 221,000 drams.
Earlier this week the PSRC unveiled on its official website new prices of gas. Thus, consumers using up to 10,000 cubic meters of natural gas per month will be paying 156 thousand drams, including VAT, for one thousand cubic meters, up form current 132,000 drams. Corporate and other enterprises consuming 10,000 and more cubic meters will be paying about $276.98. The new prices will come into force from June 7 to 10. ($1 – AMD 417.19). –0—
