Armenia’s financial system particularly the banking system has shown progress this year – in terms of assets quality and regulation reforms launched by Armenia’s Central Bank as far back as late 2014, Andranik Grigoryan, Head of the Financial Stability and Development Department, Central Bank of Armenia, told reporters on Friday.
“Armenia’s banking system remains quite stable, and we have recorded increase in both deposits and loans. We have recorded positive figures, particularly an increase in both individual deposits and deposits by legal entities. Moreover, individual deposits in terms of two currencies have shown an increase, which is evidence of individuals’ confidence in Armenia’s banking system,” Mr Grigoryan said.
With respect to bank capital development, Mr Grigoryan pointed out active processes under way. A number of banks have replenished their capital, with b...
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