YEREVAN, February 17. /ARKA/. Armenia’s banking system is assessed as stable based on stress tests, and banks are reasonably well capitalized. Daniel Azatyan, head of the Union of Banks of Armenia (UBA), stated this in response to a question from ARKA news agency.
“Banks’ equity capital alone amounts to 2.2 trillion drams, and liquidity indicators are also high. It’s safe to say that throughout its history, Armenia’s banking system has never had such high financial stability indicators as it does now,” Azatyan said.
According to him, this will allow Armenian banks to integrate into international markets, which will provide additional stability to the banking system, although it carries certain risks. The UBA head noted that foreign banks have expressed interest in collaborating with Armenian banks, without specifying which ones.
“Geopolitically, I can say that the economic activity that is theoretically and, apparently, practically expected as part of the TRIPP project could have a very positive impact. In the context of the banking system, we shouldn’t have inflated expectations, but nevertheless, our banks will be ready to serve us,” Azatyan said.
He expressed the opinion that if this project is successfully implemented, reputable international banks will be interested in the Armenian banking market.
