Wed, 30 July
36.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

No problems: Head of Armenia’s Central Bank on threats to banking sector from  Israel-Iran confrontation

YEREVAN, June 17. /ARKA/. In response to inquiries regarding the stability of Armenia’s banking sector in the face of external challenges in the current geopolitical climate, Martin Galstyan, the head of the Central Bank of Armenia, has stated that the nation’s banking system is currently operating without any issues related to risk management in the context of heightened tensions between Iran and Israel. This response was provided in reply to questions posed by the ARKA news agency.

“As previously stated, our objective was to enhance the capitalization of our banking system to a level that would ensure resilience in the face of potential shocks. Since May of this year, we have increased countercyclical capital buffers by 1.75%. This refers to additional capital exceeding approximately 150 billion drams,” Galstyan stated.

On June 13, Israel launched a series of pre-emptive strikes against military and nuclear facilities in Iran, targeting high-ranking military leaders and nuclear physicists. In response, Iran launched a series of attacks using ballistic missiles and drones. The ongoing conflict has resulted in reports of damage to both civilian and military facilities, with numerous fatalities and injuries.-0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

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.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

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.

LATEST NEWS

spot_imgspot_imgspot_img