Mon, 9 June
20.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Individual money transfers through Armenia’s banks grow 7.6% in July 2016

YEREVAN, September 1. /ARKA/. Individual money transfers through Armenia’s banks grew 7.6% in July 2016, compared with the previous month, but shrank, compared with the same month a year before, to $145.59 million, the Central Bank of Armenia reports.

Transfers abroad from Armenia totaled about $56.4 million in July 2016 showing a 13.2% year-on-year decline and 3.6% month-on-month growth.

As a result, the net inflow of remittances in Armenia amounted to about $89.2 million showing a 22.2% year-on-year decline and a 10.3% month-on-month growth.

About 65.9% of the inflow of transfers in Armenia came from Russia in July 2016, while in the past years Russian transfers made up 70 to 80 percent of the total amount.

About $96 million were received in Armenia from Russia in July 2016 – 18.3% year-on-year decline and 9.8% month-on-month growth, and outflow from Armenia to Russia grew 1% over one year and 6.8% over one month to $22.8 million.

The central bank expects significant slowdown in decline of remittances from Russia to Armenia (6-8%).

In 2015, money transfers to Armenia shrank 30% to $1 208.47 million mainly because of significant devaluation of the Russian ruble. ($1 – AMD 474.75). –0—

spot_img

POPULAR

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

US dollar, euro and Russian ruble exchange rates down against  Armenian dram

The average market exchange rate of the U.S. dollar to the Armenian dram on May 15, 2025, decreased by 1.05 points compared to May 14 and amounted to 386.94 drams.

Top 10 banks of Armenia by loan portfolio for 1st H 2020

ARKA News Agency has singled out ten banks for their big loan portfolios as of June 30, 2020

Armenia’s public debt increased by 6.2% at the end of 2024 – Finance Ministry

Armenia's public debt at the end of 2024 increased by 6.2% compared to the same period in 2023, reaching about 5 trillion drams, said Armenian Finance Minister Vahe Hovhannisyan.

LATEST NEWS

spot_imgspot_imgspot_img