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 can present Iran’s financial interests in Eurasian Economic Union

YEREVAN, July 23. /ARKA/. Armenia, as a member of the Eurasian Economic Union, can present Iran’s financial interests in the union countries, Ph.Dr. Ashot Tavadyan, the head of the department of mathematical modeling in economy at the Armenian State University of Economics, said in an interview with ARKA News Agency.

He said Iran will start opening new financial organizations in Armenia in the future when it gets rid of the economic sanctions.

«In this connection, we shouldn’t miss our chance and we should provide Iranians with everything necessary for opening Iranian banks’ branches here,» Tavadyan said in his interview. «More than that – taking into account that Armenia is a member of the Eurasian Economic Union, we would present Iran’s financial interests, especially in the banking sector, in the union.»

Iran’s Mellat opened its Mellat Bank subsidiary in Armenia in 1996. Its clients are mainly small and medium-size enterprises involved in trade relations between the two countries as well as tourists and students.

Mellat Bank’s assets totaled AMD 27.7 billion in early July 2015 after growing 0.46% since the beginning of the year and liabilities shrank 46% to AMD 8.85 billion.

The bank’s capital amounted to AMD 18.89 billion (68.76% growth) and loan portfolio to AMD 5.45 billion (1.25% decline). Its liabilities to clients totaled AMD 6.22 billion (12.91% decline).

Mellat Bank earned AMD 298.8 million in profits in Jan-June 2015 against the AMD 60.5-milion losses sustained at the same period a year before. ($1- AMD 479.94). –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.

In February, deposits in Armenian banks grew by 1%, loans decreased by 0.1% due to dram funds

In February 2025, deposits in Armenian commercial banks grew by 1% (MoM), while loans decreased by 0.1% (MoM), in both cases the changes were due to funds denominated in drams.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenian Banks Contribute AMD 28.3 Billion in Taxes During Q1 2025

In the first quarter of 2025, all 18 commercial banks in Armenia ranked among the top 1,000 taxpayers, collectively contributing AMD 28.3 billion in taxes and duties, as reported by the State Revenue Committee.

LATEST NEWS

spot_imgspot_imgspot_img