ArmInfo. The financial system of Armenia is stable and dynamically developing, uninterruptedly performing the main function - an intermediary role for many years. Chairman of the Central Bank of the Republic of Armenia Martin Galstyan voiced a similar assessment during a press conference on September 8. In this vein, he emphasized that the level of liquidity and capital of financial organizations in Armenia currently act as a sufficient buffer to resist the coronavirus crisis.
Further, the head of the Central Bank presented indicators that are important from the point of view of ensuring financial stability. In particular, the ratio of assets to GDP from 29% in 2008 reached 96% by the end of the first half of 2020, and in absolute terms, assets during this period increased 6-fold - from 1 trillion drams up to 6.1 trillion drams.
M. Galstyan also noted that the level of total capital adequacy of the banking system amounted to 17.2% with the normatively required minimum of 12%. He noted that this indicator was calculated without taking into account the risks accumulated as a result of credit holidays. The head of the Central Bank also drew attention to the fact that the level of liquidity of the banking system exceeds the regulatory minimum. M. Galstyan specified that the total capital of the Armenian banking system is 900 billion drams, and the ratio of highly liquid assets to total assets (the level of total liquidity,Ed. note) reached 26.6%, with the normatively required minimum of 15%.
