Mon, 8 September
18.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Armenia’s banking system dominates the financial system’s asset structure with a share of 83% and an indicator of 11 trillion drams – head of the Central Bank

YEREVAN, June 11. /ARKA/. The assets of the banking system continue to make up the overwhelming majority of the financial system’s assets – about 83%, or about 11 trillion drams, said the head of the Central Bank of the republic Martin Galstyan, presenting a report on financial stability for the past year.

According to the report, the assets of the banking sector in 2024 increased by 20.2%, the average annual growth over 5 years was 13.6%.

“In 2024, asset growth was recorded in all sectors of our financial system. The financial system in Armenia ensured the continuity of financial intermediation, guaranteeing the uninterrupted provision of financial services to the population and all business entities,” Galstyan said.

According to the head of the Central Bank, the report also includes indicators of investment companies, which are quite impressive.

According to the report, the assets of investment companies showed an annual growth of 57.1% in 2024, their share in the structure of the financial system is 1.9%, the average annual growth over 5 years is 31.2%.

The report also notes that the assets of credit institutions grew by 6.8% in 2024 (share – 5.8%, average annual growth over 5 years – 1.5%), the assets of insurance companies showed an annual growth of 9.7% (share – 0.7%, average annual growth over 5 years – 7.8%), and the growth of pension fund assets amounted to 34.9% (share – 8.1%, average annual growth over 5 years – 33.8%). The remaining financial organizations account for 0.9%. ($1 – 383.54 drams) -0-

spot_img

POPULAR

ACBA Federation promotes rural tourism in Armenia: the success story of Manana guest house (video)

Four years prior, Astghik Ghazaryan, a professional educator, established the Manana guest house in her hometown of Marmarik.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

Armenia to receive 45.3 million euros from ADB to improve healthcare quality

Armenia will receive 45.3 million euros from the Asian Development Bank (ADB) to improve healthcare quality, said First Deputy Minister of Health of the Republic of Armenia Lena Nanushyan during a meeting of the parliamentary standing committee on financial, credit and budgetary issues.

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img