International expert: crisis to hardly cause serious shocks to Armenian banking system
17.12.2008,
21:07
Armenian banking system is to hardly undergo serious shocks as a result of the crisis, even in the case of an economic slump, international expert on corporate management issues Douglas Muir said.
YEREVAN, December 17. /ARKA/. Armenian banking system is to hardly undergo serious shocks as a result of the crisis, even in the case of an economic slump, international expert on corporate management issues Douglas Muir said.
The banking system of Armenia is in a comparatively good condition with quite a good level of liquidity and regulation as compared to other small economies, the expert said at the roundtable discussion on corporate management in Armenian banks Tuesday.
According to Muir, Armenia has been getting out of the first stage of the global crisis good enough so far.
Official information shows that Armenian economy go on developing, but cold winds blowing from the East and the West will undoubtedly have impact on the Armenian banking system, the expert said.
Currently there are 22 commercial banks in Armenia with 367 branches throughout the country.
As of the end of September 2008, total assets of Armenian banking system were 954.1bln Drams, total capital 214.9bln Drams and liabilities 739.2bln Drams.
Economy crediting reached 617.5bln Drams against 434.5bln Drams in the beginning of 2008, including consumer credits – 172.5bln Drams and mortgage loans – 81bln Drams. ($1=308.55Drams). –0—
The banking system of Armenia is in a comparatively good condition with quite a good level of liquidity and regulation as compared to other small economies, the expert said at the roundtable discussion on corporate management in Armenian banks Tuesday.
According to Muir, Armenia has been getting out of the first stage of the global crisis good enough so far.
Official information shows that Armenian economy go on developing, but cold winds blowing from the East and the West will undoubtedly have impact on the Armenian banking system, the expert said.
Currently there are 22 commercial banks in Armenia with 367 branches throughout the country.
As of the end of September 2008, total assets of Armenian banking system were 954.1bln Drams, total capital 214.9bln Drams and liabilities 739.2bln Drams.
Economy crediting reached 617.5bln Drams against 434.5bln Drams in the beginning of 2008, including consumer credits – 172.5bln Drams and mortgage loans – 81bln Drams. ($1=308.55Drams). –0—
