Daniel Azatyan: The decrease in  non-performing loans is linked to  the population`s income growth

ArmInfo. In Armenia's banking system, as of 2024, the share of non-performing loans in the  loan portfolio amounted to only 1%, down from 1.5% in 2022, as stated by Daniel Azatyan, the Chairman of the Union of Banks of Armenia, during a press conference on February 25. He also noted that that  this does not include loans classified as bad or off-balance sheet.

"I believe this is evidence of a real increase in the population's  income  over past 2," the head of the Union of Banks of Armenia said.  Regarding the program launched in February of this year, which  provides for the repayment of bad loans through income tax, Daniel  Azatyan noted  that its beneficiaries were 217 thousand citizens.  Their total debt in terms of the principal amount is 64 billion  drams, the interest amount is 12 billion drams, and fines and  penalties are 95 billion drams.