Banks

Central bank of Armenia to support commercial banks consolidation

YEREVAN, December 30. / ARKA /. Central Bank of Armenia supports the consolidation of commercial banks, the deputy chairman of the Central Bank of Armenia Vache Gabrielyan said on Tuesday, commenting on the rumors about a possible merger of some banks.

"Our policy is that we are supporters of the consolidation of banks, and if there is such a trend, we will assist in the merger," Gabrielyan said.

Deputy Chair of the Central Bank found it difficult to say whether it is worth to expect such trends in 2010, stressing that everything will depend on economic subjects.

"In our view this is desirable, since the consolidation of the banking system will lead to a number of positive effects, including reduction of interest rates," Gabrielyan said.

Regarding the possible release of new banks in the Armenian financial market, then according to the deputy chairman of the Central Bank, there aren't any clear-cut applications, but such a possibility is not excluded, since many parties periodically turn for information in the CB.

"However, there is no information about the entrance of new banks in the Armenian market," Gabrielyan said.--0-

 

30/12/2009 14:20



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 10/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 389.94 1.02
Euro EUR 1 529.58 0.88
Russian Rоublе RUR 1 13.12 0.04

Favorable еxchange rates of banks 10/03/2010
Currency Buy Sell
USD 389
"VTB Bank (Armenia)"
ACBA-CREDIT AGRICOLE BANK
Araratbank
Armenian Development Bank
Artsakhbank
Byblos Bank Armenia
ProCreditBank
Prometey Bank
“ArmSwissBank”
392
ACBA-CREDIT AGRICOLE BANK
Ameriabank
Araratbank
Ardshininvestbank
BTA Bank
Conversebank
HSBC Bank Armenia
“ArmSwissBank”
Euro 528
ACBA-CREDIT AGRICOLE BANK
Prometey Bank
534
Ameriabank
RUR 13
ACBA-CREDIT AGRICOLE BANK
Artsakhbank
13.2
ACBA-CREDIT AGRICOLE BANK
Ameriabank
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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