Mon, 21 April
15.1 C
Yerevan
USD: 390.51 RUB: 4.81 EUR: 449.98 GEL: 142.19 GBP: 522.85
spot_img

Armenian banks’ profits should be invested into various sectors- UBA head

YEREVAN, February 25. /ARKA/. Accumulated profits and funds of the banks should be directed to investments, said Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), in response to a question from ARKA news agency about forecasts for 2025 and the readiness of banks to contribute to the capital market development.

“Expectations for 2025 are very optimistic. Part of the investments should be directed to technologies, improving cybersecurity, the quality of digital services and the qualifications of employees. This requires significant investments and is very important. If we do this within the framework of digitalization of human resources and risk management, the results will be tangible for everyone,” Azatyan said.

He noted that the investment sector in Armenia has grown in recent years, and the investment culture has improved, that is, people have learned to invest in securities, stocks and bonds.

“The banking system will be actively involved in the investment sector. As for new programs in the context of capital market development, there is currently a lot of competition. Although I cannot say what new projects will appear in 2025, it is obvious that banks should actively participate in this area,” Azatyan said.

The Armenian banking system received a profit of 363 billion drams in 2024, an increase of about 137 billion drams or 61% compared to 2023.-0-

spot_img

POPULAR

Armenia ratifies agreement with IBRD on health coverage program worth 102 million euros

Armenia's National Assembly has ratified today a 102 million euro loan agreement with the International Bank for Reconstruction and Development (IBRD, a WB division) on universal health coverage program.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Law on regulating crypto-assets in Armenia aims at balancing risks – Central Bank

The National Assembly of Armenia has initiated discussions on a draft law concerning Crypto-Assets, along with amendments to several related regulations.

Preferential registration for the FINTECH360conference is available until March 15

Taking place in April 2025 in Yerevan, FINTECH360 will bring together over 200 participants, including leading experts from the banking and payments industry, top IT executives, and fintech startups.

Armenia ratifies agreement with ADB on EUR 45.3 million healthcare improvement program

At a meeting on Thursday, the Armenian government ratified a loan agreement with the Asian Development Bank (ADB) for a program aimed at improving the quality of healthcare.

LATEST NEWS

spot_imgspot_imgspot_img