YEREVAN, October 26. /ARKA/. The financial agenda in Armenia over the past week focused on the performance of the banking sector for the first nine months of 2026, the development of the bond market, and enhancements to financial regulation.
The regulatory agenda covered issues such as the international exchange of information on financial accounts, requirements for crypto-service providers, and improving the timeliness of the disclosure of government debt market statistics.
1. Banking Sector: Growth in Assets, Lending, Capital, and Profit
Armenia’s banking system concluded the period from January to September 2026 with growth across its key financial indicators. According to the bulletin “Performance Indicators of Armenian Banks: Operational Data for Q3 2026,” published last week by the ARKA news agency, the combined assets of the 17 operating banks reached 14.46 trillion drams as of September 30—a year-on-year increase of 20.82%. Lending volume exceeded 9 trillion drams, and total capital rose to 2.32 trillion drams. The aggregate net profit of the banks for the nine-month period totaled 334.44 billion drams, an 8.63% increase compared to the same period in 2025.
The simultaneous growth in assets, the loan portfolio, and capital reflects an expansion in the scale of banking operations alongside a strengthening of the capital base. Furthermore, the profit trends provide insight into the sector’s financial performance in the context of its growing balance sheet. For market participants, these data serve as a foundation for analyzing credit activity, capitalization, and the overall efficiency of the banking system. 2. Cashless payments: Proposal in Armenia to extend cashback for pensioners until 2029
The Ministry of Labor and Social Affairs has submitted a draft government resolution for public consultation that would extend, through the end of 2029, a program offering a 20% refund to pensioners and benefit recipients on non-cash purchases made with bank cards.
The program combines social support measures with the promotion of card-based payments. For banks, implementation involves servicing pension and social welfare cards, processing non-cash transactions, and interacting with benefit recipients. Extending the program would help maintain the current mechanism for encouraging the use of bank cards in everyday transactions.
3. Banking compliance: Procedures approved for the international exchange of information on financial accounts
On October 22, the Government of Armenia approved procedures for the international exchange of information regarding financial accounts. The resolution includes three annexes that govern the transmission of data to the competent authorities of foreign states, the receipt of corresponding information from international partners, and requirements for data storage.
For banks and other organizations subject to these requirements, the rules concerning the identification of reportable accounts, the processing of information, and adherence to established procedures for its transmission are of particular significance.
4. Currency Market: Dollar and Euro Decline, Ruble Strengthens
According to the Central Bank of Armenia, the average market exchange rate for the US dollar fell from 361.36 drams to 361.14 drams between October 19 and 23, while the euro exchange rate dropped from 405.41 drams to 404.33 drams. The Russian ruble rose from 4.3731 drams to 4.4868 drams.
These divergent currency trends are significant for banks and companies that conduct settlements in foreign currencies. For participants in foreign trade operations, exchange rate fluctuations can affect the dram-denominated value of payments, as well as foreign-currency-denominated assets and liabilities.
5. Capital Market: Central Bank of Armenia Accelerates Publication of Government Bond Statistics
Last week, it was noted that the Central Bank of Armenia announced a revision to the publication schedule for statistics on investments in government bonds, broken down by investor residency. This information will now be released on the fourth business day following the end of the reporting month, rather than on the 25th day of the following month as was previously the case.
This change improves the timeliness of access to information regarding the investor structure in the sovereign debt market. For banks, investment firms, and analysts, earlier data publication allows for a more prompt analysis of the participation of both residents and non-residents in this market segment.
6. Crypto-asset Regulation: Central Bank Proposes Information Security Requirements for Service Providers
The Central Bank of Armenia has submitted a draft regulatory act for public discussion that establishes minimum information security requirements for service providers dealing with crypto-assets. This draft is part of the ongoing development of a regulatory framework for the implementation of the Law on Crypto-assets. For market participants, its significance may relate to defining information security requirements and establishing corresponding internal procedures.
7. Capital Market: ACBA Bank issues bonds totaling 10 billion drams and $10 million
On October 20, ACBA Bank announced the issuance of two series of registered coupon bonds, with a total value of 10 billion drams and $10 million, maturing by February 20, 2027. Each series consists of 100,000 bonds. The nominal value is 100,000 drams per bond for the dram-denominated issue, and $100 per bond for the dollar-denominated issue.
For investors, these issuances offer additional opportunities to invest in bank debt instruments, with specific terms regarding yield, maturity, and currency risk.
Weekly Review
The past week was marked by the release of key financial results for the banking sector for the first nine months of 2026, the development of debt financing instruments, and ongoing improvements to the regulatory framework.
Market participants focused primarily on the development of debt instruments, the expansion of cashless payments, and compliance with regulatory requirements.
