Fri, 25 July
30.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Share of problem loans in Armenia has decreased to 1.2% – EFSD report

YEREVAN, February 14. /ARKA/. The quality of the loan portfolio of Armenian banks has improved due to a decrease in the share of problem debt from 2.4% to 1.2%, according to the regional economic review of the Eurasian Fund for Stabilization and Development (EFSD) “Winter 2024–2025.”

“The key financial indicators of the banking system have improved. As of September 2024, compared to December 2023, the return on assets increased from 2.7% to 4.5%, and the return on equity increased from 17.4% to 28.3%.

The growth in these indicators was driven by an increase in interest income resulting from the growth of lending. There was also an increase in the spread between the average weighted interest rates on loans and deposits,” the study notes.

According to ARKA news agency data based on the reports of Armenian banks published in accordance with IFRS, the net profit of Armenia’s banking system in 2024 amounted to over 363.1 billion drams, marking a 60.9% increase compared to 2023.

The total assets of Armenian banks as of December 31, 2024, amounted to 11.023 trillion drams (a 20.1% increase compared to the beginning of the year). The volume of credit investments, net of reserves, amounted to 6.270 trillion drams, an increase of 24.6% since the start of the year.

Total liabilities in 2024 grew by 20% to 9.243 trillion drams, with liabilities to customers reaching 6.431 trillion drams, a 16.6% increase compared to the start of the year. The total capital of Armenian banks amounted to 1,779.3 trillion drams, increasing by 20.5% since the beginning of the year. ($1 = 396.42 drams)

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Viva Armenia CJSC bonds listed on Armenia Stock Exchange

The Armenia Stock Exchange (AMX) is pleased to welcome another major company to the capital market. Viva Armenia CJSC’s USD-denominated bonds will be listed on the Armenia Stock Exchange starting from 15 July.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

Armenia and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

LATEST NEWS

spot_imgspot_imgspot_img