Tuesday, June 14 2011 18:28

Armenia's Central Bank registers improvement of financial intermediation rate to 50%


ArmInfo. The financial intermediation rate in Armenia (the share of bank assets in GDP) has amounted to 50% against 28% in 2008 and just 13-14% in the 1990s, President of the Central Bank of Armenia Artur Javadyan said during a press-conference today.

The share of bank loans in GDP has grown to 30% from 16.7% in 2008 and less than 10% in the 1990s. In Jan-May 2011 the amount of loans given to residents grew by 17% against just 3-6% growth in the CIS and even lower level in Europe.

The share of inactive loans, particularly, nonprime loans is 3.4%. Capital adequacy is 21%, which is high even for developed and developing countries in Europe and is much higher than the average level in the CIS. The liquidity rate is 28%, with current liquidity being 134%.

There are 21 commercial banks in Armenia.
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