Tue, 26 August
27.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Central bank chairman says another bank merger expected

YEREVAN, May 19. /ARKA/. Armenian Central Bank chairman Artur Javadyan announced today an imminent merger of two more banks when presenting the regulator’s report on the implementation of the 2015 monetary policy to parliament.

There are 20 commercial banks in Armenia now. ProCredit Bank was acquired last year by Inecobank. The regulator confirmed also the pre-merger agreement of BTA Bank and Armeconombank.

Javadyan declined to name the banks which are going to merge and the date when it may happen.
In late 2014 Armenia’s Central Bank raised the minimum amount of commercial banks’ total capital to 30 billion drams from 5 billion drams, to be effective from January 1, 2017.

The measure is aimed at encouraging mergers and consolidation of banks, which is expected to create a sound competitive environment and make banking services more available. ($1 – 478 drams). -0-

spot_img

POPULAR

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

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.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

VTB (Armenia) endorses the initiative to enhance library collections in the regions

VTB Bank (Armenia) has become a participant in the Newmag BOOK DONATION educational and charitable initiative, which aims to enrich the collections of community libraries located in the regions of Armenia, as reported by the bank's press service.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img