YEREVAN, November 22. /ARKA/. In September, commercial bank deposits and loans increased 0.9 percent (mom) and 2.2 percent (mom), respectively, mainly driven by AMD denominated funds. This is stated in the World Bank’s review “Armenia Monthly Economic Update – November 2024.
‘’Compared with 2023, exchange rate-adjusted deposits rose 11.1 percent (yoy) and credits grew 21.3 percent (yoy). As a result, the loan-to-deposit ratio increased from 0.9 percent in September 2023 to 1 percent in September 2024,’’ noted in the study.
Financial indicators remained sound, with CAR edging up 0.1 pp to 20.4 in September. The NPL ratio stayed low, at 1.2 percent, and return on assets held steady at 4.5 percent.
According to the National Statistical Committee, the volume of loans issued by commercial banks in Armenia as of the end of September 2024 exceeded 6 trillion drams, compared to 5.9 trillion drams at the end of August, while the volume of deposits amounted to 5.96 trillion drams, up from 5.91 trillion drams in August. ($1 = 389.45 drams) -0-
