ArmInfo.For around 6 years, Ameriabank has retained absolute leadership in the Armenian banking  sector by mortgage loan portfolio.  In H1 2023, Ameriabank's mortgage portfolio increased by more than AMD 23B to a total of USD 209.6B, thus becoming the first in the market to go past the mark of AMD 200B, the bank's press  release reads.  

ArmInfo.S&P Global Ratings raised its long-term issuer credit rating on Ameriabank CJSC to 'BB-', outlook stable. The upgrade follows a similar action on Armenia. The ratings on Ameriabank are no longer constrained by the sovereign's creditworthiness and are now commensurate with its standalone credit profile of 'bb-'.

ArmInfo.International magazine Asian Banking & Finance awarded Ardshinbank with the nomination "RETAIL BANK OF THE YEAR OF ARMENIA" for achievements in the development of retail financial business. The winner is selected based on strong financial performance, innovative products, a customer-oriented approach, and a commitment to sustainability.

ArmInfo. The LogX team became the winner of the CaseKey 2023 business problem solving initiative competition, offering the best solutions for the strategic  development of the Team Telecom Armenia telecommunications operator  in the context of the latter's IPO undertaking. As a result, the LogX  team will receive shares in Team Telecom Armenia.

ArmInfo.In order to support the technology and education sectors, stimulate innovative ideas and  start-ups, Team Telecom Armenia has become a technology partner of  the already traditional Sevan Startup Summit.

ArmInfo. The next competitive stage of the CaseKey 2023 business problem solving initiative has  started at the American University of Armenia, the participants of which this time should make proposals for the strategic development of the Team Telecom Armenia telecommunications operator in the context of the latter's IPO.

ArmInfo. Azerbaijan launched a hybrid war against Armenia. Chairman of the Union of  Miners and Metallurgists of the Republic of Armenia, First Deputy General Director of Zangezur Copper-Molybdenum Combine CJSC Vardan Jhanyan stated  on July 24 at a press conference.

ArmInfo. The profit growth rates of Armenian banks slowed down significantly amid the ongoing serious slowdown in lending to the economy. Thus, the net profit of Armenian  banks increased by 24.8% per annum inH1 2023 (against a 2.8-fold jump  in the same period in 2022), reaching 73.6 billion drams ($367.8  million), while slowing down strongly in quarterly growth from  3.4-fold to 5.2% alone.

ArmInfo. "Mets Masrik" LLC will receive a license for electricity production at "Arev" solar power  plant. The decision to issue a license was made at the July 19 session of the Public Services Regulatory Commission (PSRC).

ArmInfo. Representatives of the development financing institutions interested in the financing of the construction project of the "Ayg-1" project, namely the European Bank for Reconstruction and Development (EBRD), German DEG, French PROPARCO, as well as representatives of Abu Dhabi's Masdar, visited Armenia, ANIF reports.

ArmInfo. Works on the  construction of the first sanitary landfill in Armenia within the  framework of the "Solid Waste Management Program of Kotayk and  Gegharkunik Regions" are at the final stage, Armenia's Premier Nikol  Pashinyan was told on July 10 during a meeting in the Kotayk regional  administration, specifying that 90% of the construction work has  already been completed.

ArmInfo. According to a revised  forecast by the Central Bank of Armenia (CBA), 6.9% GDP growth is  expected this year against the previously forecast 5.8% (against the  actual 12.6% growth in 2022), with a further slowdown to 5.5% in  2024. 

ArmInfo.Ardshinbank's Private Banking has achieved the distinguished recognition of being named the Best in Armenia for 2023 by the esteemed financial publication, Global Banking & Finance Review.

ArmInfo. In such a short period of time, this year alone, the Team Telecom Armenia telecommunications  company, managed to make breakthrough steps in the domestic telecommunications market, first, it showcased itself as group of companies (Team Pay, Team Solutions, Team Systems and buy. am), Then followed the acquisition of shares of one of the leading telecommunication operators in Georgia (SkyTel) and, finally, an  company undertook its initial public offering (IPO).

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ArmInfo.The IMF Executive Board completed the first review under the Stand-By Arrangement (SBA) with  Armenia, providing the country with access to about US$24.5 million.

ArmInfo. The Armenia Securities Exchange (AMX) will start cross-listing with the Warsaw Stock  Exchange, AMX Director General Hayk Yeganyan stated at the awards ceremony for the most active securities market participants.

ArmInfo. The World Bank has improved its forecast for GDP growth in Armenia for 2023 from the  previous 4.1% to the updated 4.4% (against the actual 12.6% growth in 2022), expecting an acceleration in 2024 to 4.8% and up to 5%. in 2025). This is noted in the WB's Flagship Report on Global Economic Prospects for June 2023.