he net profit of the Armenian banking system in the first quarter of 2025 exceeded 100.6 billion drams, increasing by 24.9% compared to the first quarter of 2024.
As a solution to the problem of growing financial fraud, the Central Bank of Armenia has recommended banks to freeze all credit obligations that have signs of fraud, said Martin Galstyan, head of the Central Bank of Armenia.
The Central Bank of Armenia decided today to leave the refinancing rate unchanged at 6.75% taking into account a set of factors such as the continued high uncertainty surrounding the US economic policy, declining confidence in the global economy, growth slowdown and a possible weakening demand in Armenia, the head of the regulator Martin Galstyan said at a press conference on Tuesday.
The net inflow of private money transfers to Armenia from overseas through the banking sector has nearly halved in the first quarter of 2025, totaling $143.7 million, a sharp decline from $278.6 million during the same period in 2024, as reported by the Central Bank.
The loan portfolio of the Armenian banking system, net of reserves, increased by 32.4% in the first quarter of 2025 compared to the same period last year, amounting to AMD 6.424 billion.
In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019
In the consumer market of Armenia, 12-month inflation in April of this year amounted to 3.2%, according to the report of the National Statistical Committee (NSC) of Armenia.
Armenia’s Finance Minister, Vahe Hovhannisyan, addressed concerns regarding the stagnation of the country's credit rating despite positive financial indicators reported by the government over the past seven years.
Armenia's public debt as of March 31 is 5.3 trillion drams, an increase of 4.4% compared to December 31 last year, and 5.8% in dollar terms, said Finance Minister Vahe Hovhannisyan.
The Armenian government has ratified an agreement with the Asian Development Bank (ADB) on providing a loan for the "Sustainable and Inclusive Road Section Improvement Project".
Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.
Armenia's investment climate is undergoing significant changes, and the financial market is becoming more active. Armen Hovhannisyan, Director of investment banking at Dimension Investments, speaks in an exclusive interview with ARKA news agency about the barriers to development, tools for accelerating growth, as well as the prospects of venture capital.
On August 23, international credit rating agency S&P Global Ratings reaffirmed Armenia's long-term and short-term sovereign credit ratings in both foreign and local currency at "BB-/B." The agency also maintained its "stable" outlook for the country.
he net profit of the Armenian banking system in the first quarter of 2025 exceeded 100.6 billion drams, increasing by 24.9% compared to the first quarter of 2024.
As a solution to the problem of growing financial fraud, the Central Bank of Armenia has recommended banks to freeze all credit obligations that have signs of fraud, said Martin Galstyan, head of the Central Bank of Armenia.
The Central Bank of Armenia decided today to leave the refinancing rate unchanged at 6.75% taking into account a set of factors such as the continued high uncertainty surrounding the US economic policy, declining confidence in the global economy, growth slowdown and a possible weakening demand in Armenia, the head of the regulator Martin Galstyan said at a press conference on Tuesday.
The net inflow of private money transfers to Armenia from overseas through the banking sector has nearly halved in the first quarter of 2025, totaling $143.7 million, a sharp decline from $278.6 million during the same period in 2024, as reported by the Central Bank.
The loan portfolio of the Armenian banking system, net of reserves, increased by 32.4% in the first quarter of 2025 compared to the same period last year, amounting to AMD 6.424 billion.
In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019
In the consumer market of Armenia, 12-month inflation in April of this year amounted to 3.2%, according to the report of the National Statistical Committee (NSC) of Armenia.
Armenia’s Finance Minister, Vahe Hovhannisyan, addressed concerns regarding the stagnation of the country's credit rating despite positive financial indicators reported by the government over the past seven years.
Armenia's public debt as of March 31 is 5.3 trillion drams, an increase of 4.4% compared to December 31 last year, and 5.8% in dollar terms, said Finance Minister Vahe Hovhannisyan.
The Armenian government has ratified an agreement with the Asian Development Bank (ADB) on providing a loan for the "Sustainable and Inclusive Road Section Improvement Project".
Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.
Armenia's investment climate is undergoing significant changes, and the financial market is becoming more active. Armen Hovhannisyan, Director of investment banking at Dimension Investments, speaks in an exclusive interview with ARKA news agency about the barriers to development, tools for accelerating growth, as well as the prospects of venture capital.
On August 23, international credit rating agency S&P Global Ratings reaffirmed Armenia's long-term and short-term sovereign credit ratings in both foreign and local currency at "BB-/B." The agency also maintained its "stable" outlook for the country.
In the first quarter of 2025, all 18 commercial banks in Armenia ranked among the top 1,000 taxpayers, collectively contributing AMD 28.3 billion in taxes and duties, as reported by the State Revenue Committee.
The Armenian Interior Ministry has warned citizens about widespread fake adds on social networks, allegedly posted by banks, inviting them to apply for quick and cheap loans.
Loans issued by Armenian banks to small and medium-sized enterprises (SMEs) in 2024 amounted to 1.6 trillion drams, said Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA).
Thirteen Armenian banks have issued bonds worth $1.3 billion out of the total volume of $1.5 billion as of the end of 2024, Deputy Chairman of the Union of Banks of Armenia Ruben Melikyan said.
The head of the Armenian Central Bank Martin Galstyan explained why banks do not lower lending rates in response to the reductions of the refinancing rate.
Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), was asked why interest rates on loans have not decreased after the Central Bank reduced the refinancing rate.
Armenia-based banks made a profit of 363 billion drams in 2024, an increase of about 137 billion drams, or 61%, compared to 2023, Daniel Azatyan, the head of the Union of Banks of Armenia (UBA) told a press conference today.
The Armenian banking sector achieved a net profit of over 172.1 billion drams in the first half of 2024, marking a 21.2% increase compared to the same period last year, according to data from the banks' reports aligned with international IFRS standards.
At the initiative of the Union of Banks of Armenia and the OVIO company, the management of several Armenian commercial banks visited OVIO’s data processing center, the largest in the country, the OVIO press service reported on Tuesday.
