YEREVAN, February 14. /ARKA/. The total capital of Armenia-based commercial banks grew by 73 billion drams or 9.5% in 2019 from the previous year to 844.8 billion drams, Seyran Sargsyan, the executive director of the Union of Banks of Armenia told reporters on Friday.
“If we compare this figure with 2009, we will see that it has tripled since then,” Sargsyan said. He also said that the banks’ assets stood at 5.805 trillion drams in late December 2019, having grown by 17% or 842 billion drams from 2018.
Also, the total liabilities of the banks amounted to 4.960 trillion drams in late 2019, having increased by 18.3% or 768 billion drams from the previous year. And liabilities to customers increased by 637 billion drams or by 22.4%.
The chairman of the Union of Banks of Armenia Mher Abrahamyan noted that the year 2019 was quite positive and favorable not only for the banking sector, but also for the entire economy.
“Naturally, positive economic developments have a positive effect on the main indicators of the banking system,” Abrahamyan said.
As a result, he said, almost all indicators saw a positive growth trend – both assets and lending. Currently, there are 17 commercial banks in Armenia. ($1 – 479.11 drams). -0-
