YEREVAN, May 19. /ARKA/. Arthur Javadyan, chairman of the Central Bank of Armenia, speaking Monday in the National Assembly, said Armenian banks’ ROE fell from 14-15% to 9-10% over a period between 2008 and 2014.
“The profitability is constantly going down because of the mounting competition among banks and the narrowing spread between deposit and loan interest rates,” he said.
At the mentioned period of time, he said, only two of Armenia’s 21 banks sustained losses – ProCreditBank that operates with German capital and Mellat bank with Iranian capital. But these banks are now working with profits. -0–