YEREVAN, October 2. /ARKA/. half of September but continued to strengthen against the RUB, according to the World Bank’s “Armenia monthly economic update – september 2023” review.
As of September 15, the AMD had strengthened by 42 percent compared to the RUB (yoy) Also, international reserves increased by USD 94 million in August, keeping reserves at a historically high level of USD 4.2 billion, equivalent to 3.5 months of import cover
Financial indicators remained sound, with a slight increase in profitability in July and mild growth in banking credits and deposits.
Capital adequacy ratios remained sound at 20.1 percent. The ratio of nonperforming loans remained unchanged at 2.85 percent in July, while profitability (return on assets) increased from 2.74 percent in June to 2.96 percent in July.
Banking credits in 2023 continue to grow faster than deposits, with credits growing by 2.4 percent (mom) in July, compared with 1 percent (mom) growth in deposits, both in nominal terms. –0–
