Union of Banks of Armenia supports Karabakh war heroes and their families

YEREVAN, November 23. /ARKA/. ‘Now it is more than necessary to support the heroes of the Karabakh war and their families,’ the Union of Banks of Armenia said in a statement today issued in connection with the Day of the Banker, celebrated on November 23.

The Union of Banks of Armenia expressed gratitude to the staff of the banks who from the very first days of the war got involved in the national struggle on the front line and in the rear. As part of the mobilization and as volunteers 412 employees of Armenia-based commercial banks went to the front. Some of them were killed in the fighting and many others were wounded.

The Union of Banks of Armenia said also that bank employees in the rear, for their part, did everything possible for the soldiers fighting on the front line and their families.

In particular, by joining the programs initiated in Armenia and by the Diaspora, financial and humanitarian assistance was provided to Artsakh and its residents, including money transfers to the Ministry of Finance of the Republic of Artsakh, the Hayastan All-Armenian Fund and the Military Insurance Fund.

The bank employees purchased food, clothing, medicines and basic necessities to deliver them to the front line, as well as to provide housing to families who moved from Artsakh to Armenia.

“Due to the martial law in Armenia, in order to make the assistance provided to borrowers more significant, commercial banks have also initiated client support programs, from delaying loan repayments to partial or complete cancellation of the loan,” the statement said.

The Union of the Banks of Armenia said also that contributing to the development of the country, the economy and financial stability, the banking system will continue its work and mission with full responsibility, knowing full well that now it is more than necessary to support the heroes of the war and their families who fought for the Motherland. and also for the strengthening of Armenia and Artsakh.

The Day of the Banker is marked in Armenia on November 23. On this day in 1993, the Soviet ruble was replaced with the Armenian national currency, the dram. –0–

spot_img

POPULAR

EBRD to provide $20 million to support refugees and young entrepreneurs in Armenia

The EBRD will provide $20 million (€17.1 million) to improve access to finance for refugees and young entrepreneurs in Armenia, the EU Delegation to Armenia announced on Facebook.

Euro and ruble exchange rates against the Armenian dram rose, while the dollar fell: Central Bank of Armenia

The average market exchange rate for the US dollar to the Armenian dram, determined on the Armenian foreign exchange market as of June 5, 2026, fell by 0.05 points compared to June 4, to 368.54 drams.

Average exchange rate of the Armenian dram to the US dollar in May was 4.7% lower than a year ago

In May 2026, the average exchange rate of the Armenian dram to the US dollar was 368.5 drams, compared to 386.6 drams in May 2025, according to data from the Statistical Committee of Armenia.

Finance Minister Explains Reason for Armenia’s Public Debt Growth

Armenia's public debt in 2025 increased by 8.8% compared to 2024, stated RA Finance Minister Vahe Hovhannisyan.

Special conditions for business development: ACBA Bank

ACBA Bank has unveiled special business financing offers for the development of small and medium-sized enterprises in Armenia, which are effective until July 31 inclusive.

LATEST NEWS

spot_imgspot_imgspot_img