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Monthly Archives: September, 2020

Armenian banks capable of serving their clients, Union of Banks says

Armenian banks are capable of providing the full range of services to their customers and the country's economy under martial law, the Union of Banks of Armenia said in a statement

Araratbank rebrands unveiling new concept, new approaches and new colors

Climbing atop the Mount Teghenis on September 24, top managers and staff members of Araratbank announced the official start of the bank's rebranding process. Choosing the top of Mount Teghenis was not accidental, since important symbols of all Armenians can be seen from there: the four peaks of Mount Aragats, the Geghama Mountain Range, Mount Ararat and Mount Ara, the bank said in a press release

Araratbank board chairman: Armenian banking system is stable despite enormous stress

Macroeconomic analysis shows that the impact of the coronavirus pandemic on Armenia's banking sector was not as strong as expected, and the system itself turned out to be stable, Araratbank Board Chairman Grigor Hovhannisyan told reporters yesterday

Credit holidays can cause major damage to Armenian banks, central bank deputy chairman says

The so-called "credit holidays" granted to thousands of borrowers in Armenia can cause major damage to the country's s banking system, while writing off fines and penalties on loans can force banks to declare bankruptcy, Deputy Chairman of the Central Bank Nerses Yeritsyan told a parliament-hosted discussion on banks' problems today

Armenian government allocates another AMD 119 billion to cushion economic consequences of COVID-19

Armenian Vice Premier Mher Grigoryan pointed out Thursday the progress in the implementation of the government’s 1st and 2nd programs aimed at cushioning the economic consequences of the coronavirus

ACBA-CREDIT AGRICOLE BANK opens branch in Meghri

The ACBA-CREDIT AGRICOLE BANK has opened its 61st branch today in the town of Meghri in the southern province of Syunik. The new branch will provide the full range of the bank's services, ACBA-CREDIT AGRICOLE BANK said in a press release

Armenia Securities Exchange (AMX) and Cbonds sign cooperation agreement

The Armenia Securities Exchange (AMX) and the Cbonds agency have signed a cooperation agreement which enables AMX to place quotes and detailed information on the securities and bonds traded currently on its platform, also on the Premium Cbonds website

Armenian banks provide 119 billion drams worth loans to support government’s anti-coronavirus measures

As part of a string of assistance measures designed by the government of Armenia to help companies and citizens offset the consequences of the coronavirus crisis, local banks have provided loans to the tune of 119 billion drams, the Union of Banks of Armenia said in a statement

Warsaw Stock Exchange intends to acquire 65% of Armenia Securities Exchange

The Warsaw Stock Exchange (GPW) Management Board and the Central Bank of Armenia (CBA) signed today a term sheet concerning negotiations to purchase 65% majority interest in the Armenia Securities Exchange (AMX) by GPW, the regulator reported

Bankruptcy formalization procedure changed in Armenia

Armenia’s National Assembly passed Friday in the second, final reading amendments to the law on bankruptcy

Armenia set to join EEU agreement on exchange of confidential information in the field of finance

Armenia's National Assembly has discussed today the ratification of the protocol on accession to the Agreement of December 23, 2014 on the exchange of information in the financial sector, including confidential information, to create conditions for ensuring the free movement of capital in financial markets of the Eurasian Economic Union (EEU) member states

ADB implementing programs to enhance seismic safety of schools in Armenia

Prime Minister of Armenia Nikol Pashinyan attended Tuesday the opening of Basic School No. 153 named after Rafael Ishkhanyan in Yerevan, Armenia. The newly renovated and seismically safe school is supported by the Asian Development Bank (ADB)