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Monthly Archives: February, 2014

Armenia’s monetary base reduces 11.8% to AMD 783 billion in January 2014

Armenia’s monetary base amounted to about AMD 783 billion in late January 2014 after reducing 11.8% over the month, the National Statistical Service of Armenia reports

Armenia’s monetary stock shrinks 3.3% to AMD 1 493.9 billion in January 2014

Armenia’s monetary stock amounted to AMD 1 493.9 billion in late January 2014 after shrinking 3.3% since late December 2013

VTB Bank (Armenia) reopens three renovated branches

TB Bank (Armenia) said today it has reopened two renovated branches in Armenia’s second largest city of Gyumri in the north-western province of Shirak and a branch in Hrazdan

Armenia’s gross international reserves Shrink 6.2% in January to $2 113.5 million

Armenia’s gross international reserves totaled $2 113.5 million in late January 2014, after shrinking 6.2% over the month, but growing 19.5% since January 2012, according to the Central Bank of Armenia

ACBA-CREDIT AGRICOLE BANK wins 2014 calendar contest among banks

The trade union of Armenia’s banks awarded ACBA-CREDIT AGRICOLE BANK the winning certificate for 2014 calendar contest among banks, the press office of the bank reported

Areximbank – Gazprombank Group launch VISA paywave in Armenia

Areximbank – Gazprombank Group and Visa have launched Visa payWave contactless payments in Armenia

Chinese yuan may supersede dollar as top reserve currency

The tightly controlled Chinese yuan will eventually supersede the dollar as the top international reserve currency, according to a new poll of institutional investors, RBC reports citing the U.S. CNBC TV channel

Level of dollarization in Armenia in 2013 declined by 3.3 percentage points to 59.7 percent

The level of dollarization (the ratio of foreign currency deposits to total deposits of residents) in Armenia in 2013 December was 59.7% , down 3.3 percentage points from the beginning of the year

Armenian banks’ return on assets 2013 slips to 1.81 percent

Armenia-based commercial banks’ average return on assets (ROA) index, showing a company’s efficiency in making profits from its assets, slipped from 1.94% in 2012 to 1.81% in 2013, according to findings of an analysis made by ARKA news agency

$121 million bought by Armenian Central Bank at forex market in 2013

In 2013 the Central Bank of Armenia concluded foreign currency sale/purchase transactions totaling $121 million, the regulator sys in its monthly bulletin for December 2013

Armenian Development Bank’s assets tripled to more than 70 billion drams

Armenian Development Bank has tripled its assets over three years to more than 70 billion drams, Karen Sargsyan, chairman of the bank’s board

Russian-owned VTB Bank (Armenia) boasted last year largest amount of time deposits

The Russian-owned VTB Bank (Armenia) boasted last year the largest amount of individual time deposits. The bank attributed the rise in time deposits by attractive terms