Friday, May 25 2012 20:33
Exchange offices in Armenia drop in number to 252 and pawn offices grow in number to 139
ArmInfo. By April 2012 the exchange offices in Armenia dropped in number by 7 to 252 offices as compared to the same period of 2011. According to the monthly issue of the Central Bank of Armenia, in December 2011 the number of exchange offices was 259, having declined by 28 to 231 in January, and increased by 19 to 250 in February. In the meantime, by April 2012 the number of pawn offices grew by 13 to 139 as compared to the same period of 2011, and by 2 offices as compared to Dec 2011 and Jan 2012.
The banking system of Armenia includes 22 banks (including the non-commercial Pan-Armenian Bank). The number of the banks has not changed since September 2011. In the authorized fund of 15 out of the 21 banks, the share of foreign capital exceeds 50%, in the other 5 banks' authorized fund, the foreign capital exceeds 95%. In the aggregate authorized fund of the banking system, the share of foreign capital is 75.1% (4.6 pct decline versus the same period of 2011). 17 banks are closed joint-stock companies, 4 banks are open joint-stock companies, (Armeconombank, Armenian Development Bank, ARARATBANK, Pan- Armenian Bank) and 1 bank is a Limited Liability Company (Prometey Bank).
As of 1 April 2012, the number of credit companies in Armenia was 32 (versus 31 companies in March 2012). The authorized fund of 13 of them has a foreign capital (39.2%, 6.9 pct growth versus the same period of 2011). The share of foreign capital in 8 of the credit companies exceeds 50%, and in 5 companies - 95%.
As of Apr 1 2012 there were 9 insurance companies in Armenia against 11 ones Apr 1 2011, with 7 of them having foreign stakes in their authorized capitals, and just 4 insurance brokers - Prime Insurance Brokers, Leader, resolution and Mitra.
As of Apr 1 2012 there were 29 stock brokers and just 1 foreign exchange dealer in Armenia.
Russian, Ukrainian, Kazakh, US, French, German, British, Austrian, Swiss, Argentinean, Lebanese, Iranian entities as well as the EU and the IFC have stakes in the authorized capitals of Armenia's banks, with Latvian, US, British, French and Russian entities holding shares in local credit companies.
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