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Daily Archives: Dec 25, 2017

New electronic platform to simplify money transfers to Armenia

Banks
A new electronic platform, designed largely for Armenian labor migrants -sendmoneyarmeina.am - is to simplify the money transfers from abroad to Armenia , the head of the State Migration Service Gagik Yeganyan said

Fitch revises city of Yerevan’s outlook to positive on sovereign rating action

Economy
Fitch Ratings has revised the Outlook on the Armenian capital city of Yerevan's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at 'B+'.

Around $128.2 million bought by Armenian banks last week

Banks
Armenia’s commercial banks bought around $128.2 million from the local foreign currency market on December 18 to 22 at the average weighted exchange rate of 480.66 drams per one USD, the Central Bank of Armenia reported on Monday

Fitch’s bank sector outlook for Armenia in 2018 remains stable

Interviews
Fitch Ratings’ bank sector outlook for Armenia in 2018 remains stable

Eurasian Development Bank intends to expand its activity in Armenia

Banks
Serzh Sargsyan, Armenian president, received Friday Eurasian Development Bank Management Board Chairman Andrei Belianinov, the presidential press office reports

Stepan Gishyan charity foundation of ACBA-CREDIT AGRICOLE BANK helps create ‘social” bakery in Gyumri

Banks
The joint efforts of the Stepan Gishyan charity foundation of ACBA-CREDIT AGRICOLE BANK and Miasin (Together) foundation in Armenia’s second-largest town of Gyumri

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Loans show faster growth than deposits in December – Finance Ministry

Financial intermediation by the Armenian banking system in December 2024 continued to outpace economic activity, also characterized by a higher growth rate of loans compared to deposits, according to the Armenian Ministry of Finance's report titled "Review of Macroeconomic Developments. December 2024." Unlike December 2023, the growth in loan volumes (24.2%) exceeded the growth in deposit volumes (13.9%).

Strong demand for mortgages and consumer loans keep interest rates high – Central Bank of Armenia

One of the phenomena faced by the Central Bank of Armenia is the huge demand for loan products, the regulator's head Martin Galstyan said at a press conference on Tuesday.

Armenia’s inflation in 2025 may approach lower threshold of target – Central Bank

The inflation target in Armenia for the current year is set at 3%, and by the end of 2025 it will most likely approach the lower limit, Central Bank Chairman Martin Galstyan said at a press conference on Tuesday.

Draft law on regulating crypto assets will soon be submitted to Armenian government

The draft law developed by the Central Bank of Armenia to regulate crypto assets will soon be submitted to the Armenian government for approval and then sent to parliament, the regulator's chairman Martin Galstyan said at a press conference today.

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