Tue, 29 April
13.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Armenia’s financial system stable and risks manageable – Central Bank

YEREVAN, April 18. / ARKA /. Armenia’s financial system is stable and risks are manageable, said Andranik Grigoryan, head of a Central Bank department in charge of stability and financial system development.

“Our financial system is stable and able to withstand different kinds of shocks,” he said at the presentation of the regulator’s report on the financial stability of the country in 2013.

He said this is evidenced by the current indicators of the system, and regular stress tests conducted at least once a quarter. According to Grigoryan, almost all the main indicators of the financial system  recorded growth last year, as they did in the previous years.

He said the stability of Armenia’s financial system may be affected in varying degrees by global economic developments and geopolitical events.

According to the Central Bank, the total loan portfolio of local banks stood at about 1.8 trillion drams at the end of last December, a twofold increase over the previous five years; the deposits grew 2.5 times to 1.6 trillion drams.

Over the last five years the banks’ loans in the nation’s GDP surged from 3.7% to 42.1 % in 2013, while their assets in the overall  GDP rose from 42.2 % to 69 % in 2013. _0-

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img