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-
