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

Difficulties in Russian economy did not affect Armenian economy – Central Bank official

YEREVAN, April 18. / ARKA /. The problems experienced currently by the Russian economy have had no adverse effect on the financial stability of Armenia, said Andranik Grigoryan, head of a Central Bank department in charge of stability and financial system development.

According to the Central Bank data, private remittances to Armenia in January-February this year amounted to $205.1 million, up almost 10 percent from the same time span in 2013. Almost 80% of total private money transfers – approximately $ 164 million- came from Russia.

According to Grigoryan, the amount of money transfers from Russia is on the continuing rise having
positive effect on the financial stability of Armenia, but the Central Bank has modeled possible developments in the case of a significant decline in private remittances from Russia.

“Since we have a fairly high level of capital adequacy – much higher than the minimum required, and along with that we have a sufficiently liquid financial system the impact of a possible decline in remittances will not have significant effect on our financial stability,” said Grigoryan.

According to Russian economic development ministry, the growth of economy in the first quarter of 2014 was only 0.8 %. -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