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Banking & Finance

publié le jeudi 24 décembre 2009

ARMENIAN GOVERNMENT HAS RELIABLE INSTRUMENTS FOR CONTROLLING RISKS IN 2010
/DEC 11/ARKA/
Armenian government has reliable instruments for controlling risks in 2010, Prime Minister Tigran Sargsyan said Thursday in National Assembly.
Armenian parliament passed the 2010 state budget bill on Thursday.
Under the state budget, the revenue will amount to AMD 935.5 billon and expenses will total AMD 193.4 billion in 2010.
The 2010 state budget deficit is planned at AMD 193.4 billion, economic growth at 1.2% and inflation 4±1.5%.
The premier said that the state budget contains some risks. He said that the government has created a stabilization fund at the central bank for controlling these risks. This fund has been made up of the remaining account balance and the EU-pledged extra @100 million.
"It means we have reliable instruments for controlling risks in 2010, and this inspires hope that we’ll be able to overcome challenges of 2010," Sargsyan said.

ARMENIA TO BECOME REGIONAL FINANCIAL CENTRE : T. SARGSYAN
/DEC 14/News from Armenia - NEWS.am/
Armenia is obviously in advantageous position in banking sector compared to other CIS countries.
According to Sargsyan, even under the crisis he does not give up hope, that Armenia will become a regional financial center. Such ambitious plans are based on tangible ground.
It must be noted that RA Government and Central Bank of Armenia did not provide any financial assistance to commercial banks unlike all CIS countries. Moreover, Armenia has never had problems with investors.

ARDSHININVESTBANK BEGINS ACCEPTING MONEY TRANSFERS IN RUSSIAN RUBLES VIA BYSTRAYA POCHTA SYSTEM
/DEC 15/ARKA/

PROJECT ON CREATING ALL-ARMENIAN BANK IS IN THE ROUND OF REALIZATION
/DEC 16/ARMENPRESS/
Currently works are being undertaken toward working out a business program on creation of All-Armenian Bank. International experts are also involved in the process, and it is expected to be ready by the end of the year. After the adoption of the program and selection of the executive director, the All-Armenian Bank will start its activity.

FIRST COLLECTOR COMPANY STARTS ITS ACTIVITY IN ARMENIA
/DEC 17/ArmInfo/
The first collector company, represented by Restitutor K.P. LLC, starts its activity in Armenia, the Company’s press service reports. The company renders services on collecting of bill receivable and return of credits.
Restitutor K.P. is the only company in Armenia which carries out complete legal activity on protection of human rights and interests of creditors, minimization of their financial risks and assurance of a balanced activity, basing on the current legislation.
To note, a collector agency is a company engaged in collecting of an overdue and troubled debt. The first collector agencies were created as subsidiaries and were engaged in debts only. Specialized collectors started to actively appear in the open market comparatively recently.

HSBC BANK ARMENIA RESUMES ALLOCATION OF CREDITS TO INDIVIDUALS IN ARMENIAN DRAMS
/DEC 17/ARKA/

ARMENIAN COMMERCIAL BANKS’ CREDITS TO PRIVATE SECTOR RISE BY 33.4% TO 381 BILLION DRAMS
/DEC 17/ARKA/
According to their interim statements for Q3, their overall credits and other borrowings to clients rose to 691 billion drams at the end of September from 639.3 billion drams on December 31, 2008. It appears that 55.14% of all credits went to the private sector.
  Armbusinessbank was the leading bank in terms of credits made available to private sector, whose share in the overall volume of credits to this sector stood at 11.5% at the end of September. Some 77.3% or 43.9 billion Drams of Armbusinessbank’s credits went to the private sector, rising from 15.1 billion from December 31, 2008.
  HSBC Bank Armenia was second with 37.5 billion Drams (56.22%),
  followed by Ameriabank-37.3 billion Drams (83.4%),
  Ardshininvestbank- 34.3 billion Drams (59.65%),
  Bank VTB Armenia- 32.2 billion Drams (48.41%)
  and Unibank- 28.4 Drams (50.38%). There are 22 commercial banks in Armenia with 365 branches). ($1 - 381.59 Drams).

ONLY 8% OF INACTIVE CREDITS IN ARMENIAN BANKING SYSTEM
/DEC 17/PanARMENIAN.Net/
Armenia’s banking system was able to resist financial crisis consequences due to its high capitalization, Head of World Bank Yerevan Office Aristomene Varoudakis said. "Until now, Armenian banking system has been strong enough. Despite the crisis, banks stay capitalized, with capital equivalence comprising 28%," he said. "There are only 8% of inactive credits in Armenian banking system, still they do not affect the system as a whole."

CBA, KFW TO NEGOTIATE ALLOCATION OF EXTRA 27 MILLION EURO TO ARMENIA
/DEC 18/PanARMENIAN.Net/
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