Central Bank of Armenia finds credit organizations’ policy satisfactory
11.03.2010,
23:16
Vahe Vardanyan, chief of Armenian Central Bank’s division for regulating financial system policy, speaking Wednesday at an annual assembly of Association of Credit Organizations of Armenia, voiced satisfaction at credit organizations’ policy and activitie
YEREVAN, March 10. /ARKA/.Vahe Vardanyan, chief of Armenian Central Bank’s division for regulating financial system policy, speaking Wednesday at an annual assembly of Association of Credit Organizations of Armenia, voiced satisfaction at credit organizations’ policy and activities.
“The Central Bank concentrates its efforts on creation of healthy financial system,” he said.
Vardanyan pointed out the necessity to create infrastructures and control system for establishing developed credit organizations in the country.
Financial institution of credit organizations was established in Armenia in 2002 after adoption of the law on credit organizations.
Credit organizations started functioning in 2003.
Aggregate assets of Armenian credit organizations amounted to AMD 75.8 billion, total capital reached AMD 26.2 billion, and liabilities AMD 49.6 billion by late December 2009.
Credit organizations have lent AMD 44.1 billion to the economic sector.
Armenia has 28 credit organizations now. ($1 = AMD 388.92). --0--
“The Central Bank concentrates its efforts on creation of healthy financial system,” he said.
Vardanyan pointed out the necessity to create infrastructures and control system for establishing developed credit organizations in the country.
Financial institution of credit organizations was established in Armenia in 2002 after adoption of the law on credit organizations.
Credit organizations started functioning in 2003.
Aggregate assets of Armenian credit organizations amounted to AMD 75.8 billion, total capital reached AMD 26.2 billion, and liabilities AMD 49.6 billion by late December 2009.
Credit organizations have lent AMD 44.1 billion to the economic sector.
Armenia has 28 credit organizations now. ($1 = AMD 388.92). --0--
