YEREVAN, November 25. /ARKA/. Aggregate assets of Armenia’s banking system rose from 1trln in 2008 to
2.7trln drams as of the end of September 2013, chairman of the Central Bank of Armenia Artur Javadyan
said at a reception on the 20th anniversary of Armenian Dram Friday.
The ceremony was attended also by Armenia’s president Serzh Sargsyan.
Javadyan said average amount of the banking system’s loans was 615 billion drams as of the end of 2008,
whereas now it is up to 1.6 trillion drams.
Financial mediation increased 2.5 times over the last five years; loans and deposits rose by
approximately 27% on average each, he said.
The head of the Central Bank stressed Armenia recorded reduction in average weighted loan interest rates
by 3-4 percentage points on average.
According to Javadyan, access to financial services has broadened and corporate management level and
public awareness of financial services have increased in the period.
This creates basis for further advancement, Javadyan said.
There were 21 commercial banks operating in Armenia as of the end of September 2013. ($1=404.64drams).
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