The quality of the loan portfolio of Armenian banks has improved due to a decrease in the share of problem debt from 2.4% to 1.2%, according to the regional economic review of the Eurasian Fund for Stabilization and Development (EFSD) “Winter 2024–2025.”
Bank lending growth rates in Armenia exceeded the growth rates of deposits (21.1% and 10.8% y/y, respectively) by the end of September 2024, contributing to the reduction of excess liquidity in the banking sector, the Eurasian Fund for Stabilization and Development (EFSD) regional economic review “Winter 2024-2025” says.
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
ARKA News Agency has released the ranking of the biggest profit-gainers among Armenia's commercial banks for Jan-Sept 2019. The Armenian banking sector's aggregate net profit for Jan-Sept 2019 amounted to AMD 60.9 billion against the AMD 51.7 billion of the same period a year before showing a 18% year-on-year growth. All the 17 banks of the country operated with profits
ARKA News Agency announces the launch of the updated website Arkatelecom.am — the first specialized resource in the field of high technologies and telecommunications in Armenia, operating since 2008.
The pace of price growth in Armenia is expected to gradually increase in the coming months, driven by the easing of monetary policy and the recovery in global food prices, according to the weekly macro review of the Eurasian Development Bank (EDB).
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 an exclusive interview with ARKA news agency CEO of Armenian Securities Exchange (AMX) Hayk Yeganyan spoke about the strategy of the exchange, prospects of the securities market development, as well as the obstacles on this path
Andranik Grigoryan, the CEO of Converse Bank, addressed key topics in an interview with AmCham magazine, including customer interests, digital financial services improvement, and Converse Bank's digital team organization. Read the full interview with Andranik Grigoryan
The quality of the loan portfolio of Armenian banks has improved due to a decrease in the share of problem debt from 2.4% to 1.2%, according to the regional economic review of the Eurasian Fund for Stabilization and Development (EFSD) “Winter 2024–2025.”
Bank lending growth rates in Armenia exceeded the growth rates of deposits (21.1% and 10.8% y/y, respectively) by the end of September 2024, contributing to the reduction of excess liquidity in the banking sector, the Eurasian Fund for Stabilization and Development (EFSD) regional economic review “Winter 2024-2025” says.
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
ARKA News Agency has released the ranking of the biggest profit-gainers among Armenia's commercial banks for Jan-Sept 2019. The Armenian banking sector's aggregate net profit for Jan-Sept 2019 amounted to AMD 60.9 billion against the AMD 51.7 billion of the same period a year before showing a 18% year-on-year growth. All the 17 banks of the country operated with profits
ARKA News Agency announces the launch of the updated website Arkatelecom.am — the first specialized resource in the field of high technologies and telecommunications in Armenia, operating since 2008.
The pace of price growth in Armenia is expected to gradually increase in the coming months, driven by the easing of monetary policy and the recovery in global food prices, according to the weekly macro review of the Eurasian Development Bank (EDB).
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 an exclusive interview with ARKA news agency CEO of Armenian Securities Exchange (AMX) Hayk Yeganyan spoke about the strategy of the exchange, prospects of the securities market development, as well as the obstacles on this path
Andranik Grigoryan, the CEO of Converse Bank, addressed key topics in an interview with AmCham magazine, including customer interests, digital financial services improvement, and Converse Bank's digital team organization. Read the full interview with Andranik Grigoryan
As part of a string of assistance measures designed by the government of Armenia to help companies and citizens offset the consequences of the coronavirus crisis, local banks have provided loans to the tune of 119 billion drams, the Union of Banks of Armenia said in a statement
Over 470,000 individuals and 15,500 legal entities in Armenia have been awarded credit holidays because of the coronavirus pandemic, Prime Minister Nikol Pashinyan said on Thursday during a government meeting
Armenian Prime Minister Nikol Pashinyan, speaking Wednesday in the National Assembly, said the country's financial system has quickly recovered amid COVID-19
Some 973 million drams (over $1.8 million) have been raised so far to support the Armenian government's efforts to contain the spread of coronavirus Covid 19, the Ministry of Finance reported
"HSBC Bank Armenia" CJSC (HSBC Armenia) will be allocating AMD15 million to COVID19 relief and recovery effort in Armenia, the Bank said today in a press release.. It said the funds will be donated to the Armenian Red Cross Society (ARCS), which will identify the most pressing humanitarian needs of vulnerable groups in the country and provide both immediate as well as medium and long-term response
Some 887 million drams (over $1.8 million) have been raised so far to support the Armenian government's efforts to contain the spread of coronavirus Covid 19, the Ministry of Finance reported
The damage to the Armenian economy from the coronavirus in the base scenario will amount to $ 1.53 billion (or 11.2% of the 2019 GDP), according to a study by Vahram Avanesyan, a former minister of economy of Armenia, published on the website of the Russian-Armenian University
Armenian banking sector fundamentals will weaken as a result of the coronavirus shock, captured by the negative banking sector outlook for 2020, Fitch Ratings said in a report after revising the outlook on Armenia's Long-Term Issuer Default Ratings (IDR) to negative from stable and affirmed the IDRs at 'BB-'.
Speaking at a news conference today, Armenian Deputy Prime Minister Mher Grigoryan commented on the need to reduce cash flow in the country and switch to cashless payments as part of the fight against the spread of coronavirus
Some 691.5 million drams (almost $1.4 million) have been raised so far to support the Armenian government's efforts to contain the spread of coronavirus Covid 19, the Ministry of Finance reported
The economic pressures resulting from the spread of the coronavirus and the lower oil price are credit negative for banks in Russia and neighbouring markets, and could result in negative rating actions, Fitch Ratings says. Fitch has revised banking sector outlooks to negative for seven of the eight markets it covers in the region - Russia, Ukraine, Kazakhstan, Armenia, Azerbaijan, Belarus and Georgia. The banking sector outlook for Uzbekistan remains stable
Taking into account the fact that due to the situation around the spread of coronavirus /COVID-19/, some customers of "HSBC Bank Armenia" CJSC may face problems in meeting the loan obligations stipulated in their agreements, as well as with the purpose of assisting its customers in overcoming their financial difficulties, the Bank provides some preferences to clients
