Armenian banks ‘take aboard’ 16,000 non-resident clients

YEREVAN, May 4. /ARKA/. Armenian banks have currently about 16 thousand non-resident clients,  most of them are from the Russian Federation, who have moved their economic interests to Armenia, Chairman of the Central Bank Martin Galstyan told a Tuesday press conference.

“The Armenian banking system has “taken them aboard” and the center of economic interests of most of them has been moved to Armenia, at least for a short-term period,” he said.

According to Galstyan, the banking sector follows internationally accepted rules of the game with regard to non-residents, who are under much stricter procedural oversight than local residents.

“The Armenian banking system in the current situation carries out a very correct work to comply with all international norms,” he stressed.

At that, according to Galstyan, 16,000 non-resident clients mean 16,000 foreigners and not as many accounts, since one person can open up to three accounts on average.

Galstyan said also that the non-resident clients have more accounts in Russian rubles than in other currencies. -0-

spot_img

POPULAR

Members of the Board and the CEO of the Universal Health Insurance Fund have been elected in Armenia

Members of the Board of Trustees and the CEO of the Universal Health Insurance Fund have been elected in Armenia, the government press service reported.

Head of CBA has ruled out excess profits at banks

The idea of ​​excess profits in the Armenian banking system is unfounded, and banks themselves remain one of the most transparent sectors of the country's economy.

International investors own 7-8% of Armenia’s dram-denominated government debt – Central Bank

Global institutional investors own approximately 7-8% of Armenia's dram-denominated government debt, stated Central Bank Chairman Martin Galstyan.

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

The average market exchange rate for the US dollar to the Armenian dram, formed on the Armenian foreign exchange market as of June 19, 2026, fell by 0.04 points compared to June 18, to 368.15 drams.

Net non-commercial remittances in Armenia accelerated to 16% in April – WB

Net non-commercial remittances in Armenia increased by 16% year-on-year in April from a low base in 2025, according to the World Bank's "Armenia Monthly Economic Update – June 2026."

LATEST NEWS

spot_imgspot_imgspot_img