{"id":251164,"date":"2023-11-01T07:47:34","date_gmt":"2023-11-01T07:47:34","guid":{"rendered":"https:\/\/armbanks.am\/2023\/11\/01\/251164\/"},"modified":"2023-11-01T07:47:34","modified_gmt":"2023-11-01T07:47:34","slug":"there-is-a-serious-demand-for-credit-products-in-armenia-central-bank-head","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2023\/11\/01\/251164\/","title":{"rendered":"There is a serious demand for credit products in Armenia – Central Bank head"},"content":{"rendered":"\n

YEREVAN, November 1. \/ARKA\/.<\/strong> In late September 2023 the amount of consumer loans provided to citizens was up almost 19% from late December 2022, said the head of the Central Bank of Armenia Martin Galstyan on Tuesday.<\/p>\n\n\n\n

Galstyan described the rise as \u2018a fairly healthy indicator\u2019 saying the growth is being driven by the income growth in a number of sectors of  the Armenia’s economy.<\/p>\n\n\n\n

“If we compare the figures with last year, when a substantial part of the revenues of the financial system and the banking sector came from services provided to non-residents, this year we see quite a serious demand for credit products and  opportunities for the banks to earn more profit,’ he said.<\/p>\n\n\n\n

Galstyan also said residents’ deposits at the end of September increased by 0.7% on a monthly basis.<\/p>\n\n\n\n

\u2018Foreign currency demand deposits of legal entities increased by 4.9%, and term deposits by 3.7%. Foreign currency demand deposits of individuals increased by 4.7%, while term foreign currency deposits decreased by 0.8%. Thus, there is no trend that would indicate withdrawal of foreign currency deposits,” he said at a press conference on Tuesday.<\/p>\n\n\n\n

Galstyan also said that the growth of total deposits of residents compared to the same period last year at a fixed exchange rate was 25.2%, while non-residents – 16.8%. <\/p>\n\n\n\n

The Central Bank head also noted that nothing threatens the stability of Armenia’s financial system at the moment.<\/p>\n\n\n\n

“The Central Bank together with colleagues from the government, banks and the National Assembly should discuss a reasonable and best solution to the created situation,” he said when asked how the issue of  Nagorno-Karabakh  government’s debt to Armenia’s banks will be resolved. According to Galstyan, no final discussions have taken place so far.<\/p>\n\n\n\n

After the large-scale aggression of the Azerbaijani armed forces on September 19, Nagorno-Karabakh authorities accepted the proposal of the command of the Russian peacekeeping contingent for a ceasefire.<\/p>\n\n\n\n

Fearing persecutions more than 100,000 Nagorno-Karabakh residents left their homes and moved to Armenia.<\/p>\n\n\n\n

Nagorno-Karabakh president signed a decree to dissolve all state institutions and organizations under their subordination before January 1, 2024. By that time the Nagorno-Karabakh Republic is to cease to exist. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

In late September 2023 the amount of consumer loans provided to citizens was up almost 19% from late December 2022, said the head of the Central Bank of Armenia Martin Galstyan on Tuesday<\/p>\n","protected":false},"author":1,"featured_media":161736,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":{"0":"post-251164","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=251164"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/161736"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=251164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=251164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=251164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}