Sun, 6 April
17.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
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

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img