YEREVAN, January 30. / ARKA /. Ameriabank financial director, Gevorg Tarumyan, predicted an 18-22 percent growth for Armenia’s banking system this year. Speaking at a news conference he said the decline in 2009-2010 in the banking system was replaced by growth in 2011-2012.
According to him, the sector reported a 20% growth last year and this pace will continue this year as well. He said the banks’ lending in 2012 also increased by about 20%.
"It is important that lending increased not only to the corporate businesses, but also to individual borrows. This is a positive development, indicating that people have jobs and they are solvent,” he said.
According to ARKA news agency’s data, compiled on the basis of the banks’ financial reports, their total assets last year grew to 2. 412.2 trillion drams, liabilities to 2 trillion drams, the outstanding loan portfolio to - 1.5 trillion drams. Their retained profits amounted to approximately 42.5 billion drams and their total capital rose to 409.5 billion drams.
Ameriabank is a universal bank providing investment, corporate and retail banking services. ($ 1 - 407.75 drams). -0-