ArmInfo. Armenia's banking system is adequately capitalized and has high liquidity, as stated by Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), during a press conference on February 17, noting that the system's capitalization has reached 2.2 trillion drams.
"The Armenian banking system has never demonstrated such high stability indicators. It will allow our banks to move on to the second stage of development - international integration," he said.
Speaking about the banking system from a geopolitical standpoint, the UBA head mentioned the TRIPP (Trump Route for International Peace and Prosperity) project. He highlighted the potential economic benefits that could be expected from the implementation of this project and its positive impact on the country's financial market. "We shouldn't have high expectations for the banking system, but our banks will nonetheless be ready to support the project's infrastructure. I believe that the implementation of TRIPP will draw in reputable international banks to our domestic market, both through partnerships and direct participation. Efforts should be made in this direction," Azatyan noted.
