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Banking In Armenia
In order to support the sector and increase availability of loans, the Central Bank of Armenia (CBA) started the process of monetary policy easing by systematically lowering the refinancing rate, which decreased by 4.5p.p. down to 6% between 2015-2017. This has pushed banks to revise rates on loans and deposits downwards, evidenced by dropping credit and deposit rates from 14,7% to 10,7% and from 9,7% to 5,3% in 2016-2017 respectively. See also * List of banks in Armenia * Economy of Armenia * Central Bank of Armenia The Central Bank of Armenia ( hy, Հայաստանի Կենտրոնական Բանկ, translit=Hayastani Kentronakan Bank) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issu ... References External links Armenia Banking Information [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Armenia
Central bank *Central Bank of Armenia Commercial banks As of 31 December 2017, there are 17 commercial banks operating in Armenia. This includes: * Ameriabank opened in 1910 as the Yerevan branch of the Caucasus Trade Bank. * Armbusinessbank opened in 1994 as the legal successor of the "Arminvestbank" operating since 1991. * Byblos Bank Armenia opened in 2000 as the legal successor of the "International Trade Bank" operating since 1992. *Converse Bank, opened in 1993 as "North Armenian Shareholding Bank", incorporated into Converse Bank in 1997. * Evocabank opened in 1990 as Prometheus Bank, and renamed in 2001 as Prometey Bank. It was re-branded in 2017 as Evocabank. *HSBC Bank Armenia, opened in 1996 as "Midland Armenia Bank", incorporated into HSBC Bank Armenia in 1999. * VTB Armenia, opened in 1993 as the "ArmSavingsBank", incorporated into VTB Armenia in 2006. Rankings Armenia-based commercial banks earned a total of 20.1 billion drams in net profit in the first quarter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Armenia
The Armenian economy contracted sharply in 2020, by 5.7%, mainly due to the 2020 Armenia-Azerbaijan war. In contrast it grew by 7.6 per cent in 2019, the largest recorded growth since 2007, while between 2012 and 2018 GDP grew 40.7%, and key banking indicators like assets and credit exposures almost doubled. While part of the Soviet Union, the economy of Armenia was based largely on industry—chemicals, electronic products, machinery, processed food, synthetic rubber and textiles; it was highly dependent on outside resources. Armenian mines produce copper, zinc, gold and lead. The vast majority of energy is produced with imported fuel from Russia, including gas and nuclear fuel for Armenia's Metsamor nuclear power plant. The main domestic energy source is hydroelectric. Small amounts of coal, gas and petroleum have not yet been developed. Armenia's severe trade imbalance has been offset somewhat by international aid, remittances from Armenians working abroad, and foreign dir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Armenia
The Central Bank of Armenia ( hy, Հայաստանի Կենտրոնական Բանկ, translit=Hayastani Kentronakan Bank) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issuing all banknotes and coins in the country, overseeing and regulating the banking sector and keeping the government's currency reserves. The CBA is also the sole owner of the Armenian Mint. The bank is engaged in policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion. On July 3, 2012 the Central Bank of Armenia announced it would be making specific commitments to financial inclusion under the Maya Declaration. On September 28, 2012 at thGlobal Policy Forum 2012 the bank madan additional commitmentunder the Maya Declaration to encourage the roll out of private sector products that respond to the needs of the poor, with an emphasis on innovative channels like mobile and electronic money. And to als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
