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-
