{"id":255432,"date":"2024-11-07T10:32:25","date_gmt":"2024-11-07T10:32:25","guid":{"rendered":"https:\/\/armbanks.am\/2024\/11\/07\/255432\/"},"modified":"2025-01-02T12:17:20","modified_gmt":"2025-01-02T12:17:20","slug":"armenias-banking-sector-strengthens-financial-stability-central-bank-head","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2024\/11\/07\/255432\/","title":{"rendered":"Armenia&#8217;s banking sector strengthens financial stability \u2013 Central Bank head"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>YEREVAN, November 7. \/ARKA\/.<\/strong> In recent years, Armenia&#8217;s banking sector has significantly improved its resilience in terms of financial stability, said Martin Galstyan, Chairman of the Central Bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2018Our policy has focused on consolidating the positive results of previous years and building resources to address potential risks in the future,&#8221; he said on Thursday at the forum &#8220;Regional Challenges and Opportunities in Cooperation with European Banks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Galstyan explained that, according to the Central Bank&#8217;s decision, part of the banks&#8217; profits was allocated to building a countercyclical capital buffer, which was raised to 1.75%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to him, the current growth of the loan portfolio is largely driven by the significant increase in loans to households and the construction sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAccording to our estimates, the banking system is characterized by high levels of capital adequacy and liquidity, which ensures a high and stable level of its stability,&#8221; emphasized the head of the regulator.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the reports of Armenian banks, published in accordance with IFRS, the net profit of the banks in January-September 2024 exceeded 267.6 billion drams, marking a 25% increase compared to the same period last year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of the end of September, the total assets of Armenian banks amounted to 10,144.1 billion drams, reflecting a 10.5% increase compared to the beginning of the year, and a 4.3% increase in the third quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The volume of bank credit investments, excluding reserves, totaled 5,758.4 billion drams, marking a 14.5% rise since the beginning of the year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Total liabilities for the 9 months increased by 9.1%, reaching 8,404.7 billion drams, with customer liabilities accounting for 5,914.0 billion drams, up 7.2% from the start of the year. The total capital of Armenian banks amounted to 1,739.4 billion drams, growing by 17.8% since the beginning of the year. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In recent years, Armenia&#8217;s banking sector has significantly improved its resilience in terms of financial stability, said Martin Galstyan, Chairman of the Central Bank.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":["post-255432","post","type-post","status-publish","format-standard","category-banks-en-en","category-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/255432","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=255432"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/255432\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=255432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=255432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=255432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}