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VTB bank (Armenia) not considering merger or other deal

YEREVAN, September 30. /ARKA/. VTB Bank (Armenia), a 100% subsidiary of Russian VTB Bank,  is not considering any merger or acquisition deal in Armenia now,  VTB24 Board Chairman Mikhail Zadornov told a news conference today in Yerevan, adding: “Never say never.”

Currently, there are 20 commercial banks operating in Armenia. In 2015 Inecobank acquired the 100% stake in German ProCredit Bank.

On August 24, 2016 the Central Bank registered the deed of transfer, and approved the updated charter of Armeconombank, according to which BTA Bank terminated its activities while Armeconombank becomes its legal successor. -0-

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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.

Fitch: Armenia plans to issue Eurobonds in the first quarter of 2025

Armenian authorities are planning to issue Eurobonds in the first quarter of 2025 to repay a $313 million Eurobond maturing in March 2025, Fitch Ratings said in a report.

Armenian banks’ profits should be invested into various sectors- UBA head

Accumulated profits and funds of the banks should be directed to investments, said Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), in response to a question from ARKA news agency about forecasts for 2025 and the readiness of banks to contribute to the capital market development.

Average interest rate on deposits slips 0.3 points to 8.5% in November 2012

Average interest rate on deposits slid 0.3 percentage points in November 2012, compared with the previous month, to 8.5%

 Inflation of 2.5% registered in Armenia in February

In February of this year, the 12-month inflation in Armenia's consumer market was 2.5%, according to a report by the National Statistical Committee (NSC) of Armenia.

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