International reserves of Armenia for the first half of the year  decreased, but in annual terms remained in growth

 Friday, July 10 2020 20:08:00
International reserves of Armenia for the first half of the year  decreased, but in annual terms remained in growth

ArmInfo.  The gross international  reserves of Armenia decreased by 7.1% or $ 201.3 million in the first  half of 2020 (against a decline of 1.7% a year earlier), amounting to  $ 2.648 billion. This is evidenced by the data of the Central Bank of  Armenia. Of these, the lion's share - $ 2.597 billion falls on  external assets in hard currency, and the share of SDRs in the IMF  amounted to $ 51 million. According to the regulator's report, for  the first half of this year foreign assets in hard currency decreased  by 8.7%, and the share of SDR in the IMF jumped 8.3 times. Moreover,  in monthly terms, the decline in BMD was recorded in January-April  (with the highest rate in January - 6.3%), after which growth  followed in May, but in June the decline resumed. And the share of  SDRs in the IMF was decreasing monthly during the first quarter,  freezing in April at the same level, then in May it jumped sharply,  but again in June it marked a drawdown.

WB approved granting Armenia a loan of 17.9 million euros for  additional financing of the "Social Investments and Local  Development"
 Monday, March 23 2020 10:39

ArmInfo. The World Bank Board of Executive Directors approved the provision of a loan of 17.9 million euros to Armenia for additional financing of the program  "Social Investments and Local Development".

Arthur Stepanyan: The regulator has a wide enough toolset to protect  the foreign exchange market from shocks
 Friday, March 20 2020 16:01

ArmInfo.The Central Bank of Armenia, while remaining committed to a floating exchange rate policy, today has sufficiently high reserves and multilayer tools to  protect the foreign exchange market from any shocks. CBA Board member  Artur Stepanyan stated on March 20 during Armenian Unified  InfoCenter's  press conference , assuming that no shocks are expected  in the near future.

Regulator: Inflation in Armenia will remain low
 Friday, March 20 2020 13:50

ArmInfo. Inflation in Armenia will remain low in the coming months. Deputy Chairman of the Central Bank of the Republic of Armenia Artur Stepanyan stated this on March  20 during a Armenian Unified InfoCenter's press conference.

HSBC Bank Armenia from March 13 to May 31 will not fine loan defaults
 Friday, March 20 2020 13:09

ArmInfo. Taking into account the fact that due to the situation around the spread of coronavirus /COVID-19/, some customers of "HSBC Bank Armenia" CJSC /hereafter the  Bank/may face issues in meeting the loan obligations stipulated in  their agreements, as well as with the purpose of assisting our  customers in overcoming their financial difficulties,

Fitch Affirms ACBA-Credit Agricole and Ardshinbank at `B+`; Outlook  Stable
 Thursday, March 19 2020 16:34

ArmInfo.Fitch Ratings has  affirmed ACBA-Credit Agricole Bank CJSC's (ACBA) and Ardshinbank  CJSC's (Ardshin) Long-Term Foreign- Currency Issuer Default Ratings  (IDRs) at 'B+' with Stable Outlooks.  The banks' IDRs and senior debt  ratings are driven by their intrinsic strength, as captured by their  'b+' Viability Ratings (VRs).

RA government approves signing of financial cooperation agreement  with Germany
 Thursday, March 19 2020 15:52

ArmInfo. On March 19, the RA Government approved the signing of an agreement with Germany on financial cooperation. It was proposed to Armenia back in 2018.  This  is stated in the reference justification of the draft decision of the  Government of Armenia.  According to the source, within the framework  of the agreement, the German government provides an opportunity for  the Armenian government to attract loans and financial assistance for  a number of programs of the German Development Bank KfW.

Central Bank of Armenia has all the tools to ensure uninterrupted  operation of the financial system
 Wednesday, March 18 2020 20:46

ArmInfo. In connection with the spread of the COVID-19 virus throughout the world, the  uncertainty of economic activity and its prospects has intensified, which has increased the challenges for ensuring macroeconomic stability.

VTB Bank (Armenia) offers its borrowers a two-month delay in loan  payments
 Tuesday, March 17 2020 21:46

ArmInfo.VTB Bank (Armenia), as a socially oriented bank, offers its individual borrowers a two-month delay in paying loans - from March 17 to May 17. As explained in the bank's statement, the deferral concerns both repayment of the  principal loan amount and interest payments on dram and foreign  currency loans.  

Customers can make loan repayments any time within a month.
 Tuesday, March 17 2020 16:29

ArmInfo.Taking into consideration the current situation in the country with the spread of the new coronavirus, and taking care of our customers, IDBank has made a decision to give an opportunity to its physical entity customers to make their credit repayments the day preferred by them in the period from March 17 to April 17. If the customers do not make the repayments within the specified period, no penalties or fines will apply, the credit will not be classified and the borrower's credit history will not suffer.

In Jan-Feb 2020 gross international reserves of Armenia decreased by  6.4% amid y-o-y growth of 28.2%
 Tuesday, March 17 2020 16:27

ArmInfo.In January-February 2020 the gross international reserves of Armenia decreased by 6.4%, amounting to $ 2.659 billion. This is evidenced by the data of the  Central Bank of Armenia. The lion's share of these - $ 2.655 billion,  are foreign assets in hard currency, and the share of SDR in the IMF  amounted to $ 4.1 million. According to the regulator's report,  foreign assets in hard currency for the reporting two months  decreased by 6.3%, and the share of SDR in the IMF decreased by  33.9%.  

Central Bank of Armenia reduced refinancing rate from 5.5% to 5.25%  in March 2020
 Tuesday, March 17 2020 16:07

ArmInfo. The Central Bank of Armenia reduced the refinancing rate from 5.5% to 5.25%. As the press service of Central Bank of Armenia told ArmInfo, this decision was  made on March 17 at a meeting of the Central Bank Board.

The Central Bank of Armenia is ready to provide additional liquidity  to the financial system, if necessary
 Monday, March 16 2020 20:18

ArmInfo. The Central Bank of Armenia, if necessary, is ready to provide the financial system with additional liquidity both in drams and in foreign currency. Head of  the Central Bank Artur Javadyan announced on March 16 at a meeting of  the Government of the Republic of Armenia, chaired by Prime Minister  Nikol Pashinyan.

Converse Bank deferred payments on loans of individuals and private  entrepreneurs until May 15
 Monday, March 16 2020 18:01

ArmInfo.Converse Bank, in order to avoid the spread of coronavirus and congestion in branches, decided to defer payments on loans to individuals and private  entrepreneurs until May 15 this year.

Some Armenian banks temporarily closed their branches in Etchmiadzin
 Monday, March 16 2020 17:50

ArmInfo.As of March 16, the Central Bank of Armenia did not make any decisions on suspension of the work of branches of commercial banks of Armenia. This was  reported by the press service of the CBA.

ARARATBANK provides its clients "credit holidays"
 Monday, March 16 2020 17:40

ArmInfo. Due to the current situation and in order to avoid crowds in the branches, by decision of the Board of ARARATBANK, clients (individuals and legal entities,  private entrepreneurs) will be provided with a "credit vacation" for  a period of 2 months, starting from March 16, if desired.

ACBA-Credit Agricole Bank will not apply fines and penalties until  April 30 in case of failure to fulfill loan obligations
 Monday, March 16 2020 17:25

ArmInfo.ACBA-Credit Agricole Bank, based on the situation of the spread of the coronavirus and worrying about its employees and customers, decided not to apply  fines and penalties in case of non-fulfillment of loan obligations by  individuals and legal entities from March 16 to April 30 inclusive  (dates may be revised).

CBA: Armenian financial system continues to operate normally
 Monday, March 16 2020 15:51

ArmInfo.The financial system of Armenia continues to operate normally. This is stated in the official statement of the Central Bank of Armenia.

Ameriabank announces "credit holidays" for SME borrowers
 Monday, March 16 2020 15:19

ArmInfo.Ameriabank, in view of the current situation, decided to support the most vulnerable sector of the Armenian economy, "small and medium-sized businesses  operating in the field of tourism, food service and hotel industry,  with a joint effort to overcome the temporary crisis through credit  holidays". According to the press service of the bank, "credit  holidays" for borrowers of the above segments of SMEs will start from  March 16 and provide for deferred payments on the main loan amount  for 3-6 months using an individual approach.

Evocabank deferred payments on SingleTOUCH loans for 2 months
 Monday, March 16 2020 15:12

ArmInfo. Evocabank, in view of the situation, decided to defer payments on SingleTOUCH loans until May 17. This is stated in the message of the Bank on the official Facebook page.

Over 2000 responsible borrowers of Ardshinbank receive cashback
 Monday, March 16 2020 11:44

ArmInfo.Ardshinbank’s 2118 borrowers of home equity loans received 5% cashback from the interests they paid for their loans during the previous calendar year. This time, the total amount of money returned by the Bank to borrowers amounted to about 62 million drams.



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