In our rapidly changing world, especially in the region where we live, the challenges are diverse, they transform very quickly, and we are required to respond in a timely manner; Central Bank President Martin Galstyan announced at the conference “Challenges of the region, opportunities in cooperation with European banks”.
“Trust is one of our most valuable assets and we are committed to contributing to the strengthening of that trust with our policies and actions. The proof of this is the positive changes recorded in the direction of qualitative growth in the indicators in the banking system,” he said.
In terms of financial stability, the Central Bank President noted that the resilience of the system has significantly improved in recent years. ”Our policy was aimed at strengthening the positive results of previous years and forming reserves for possible future risks,” he said.
According to Martin Galstyan, part of the profits of the banks, according to the decision of the Central Bank, was directed to “the creation of a capital counter-cycle buffer”.
“Now the loan portfolio is growing, which is greatly supported by the high growth of loans provided to households and the construction sector,” he said.
Interview between Time.news Editor and Central Bank President Martin Galstyan
Editor: Welcome, President Galstyan! Thank you for joining us today. Your recent conference on “Challenges of the Region, Opportunities in Cooperation with European Banks” has certainly sparked interest. Could you start by outlining the key challenges you see facing our region right now?
Martin Galstyan: Thank you for having me! The challenges we face are indeed diverse and rapidly evolving. Economic volatility, geopolitical tensions, and shifting trade dynamics are at the forefront. Additionally, we must contend with technological advancements, which, while offering new opportunities, also present disruption in traditional banking and economic systems.
Editor: That sounds daunting. How does the Central Bank plan on addressing these challenges in a timely manner?
Martin Galstyan: Agility is key. We’re focusing on fostering a robust policy framework that can adapt to quick changes in the economic landscape. This includes enhancing our regulatory practices, investing in innovative financial technologies, and strengthening our collaborations with European banks. Working together with these institutions can help us leverage resources and best practices that are crucial during turbulent times.
Editor: Cooperation with European banks seems vital. Can you share any specific opportunities you envision through this collaboration?
Martin Galstyan: Absolutely! One of the most exciting opportunities lies in sharing knowledge and best practices around digital banking and financial inclusion. By working with European banks, we can enhance our banking systems, ensuring they are resilient, transparent, and customer-focused. Additionally, there are prospects for joint investment initiatives that can stimulate economic growth in our region.
Editor: Trust, as you mentioned at the conference, is a central component of these relationships. How can trust be cultivated and maintained, especially in a rapidly changing environment?
Martin Galstyan: Trust is indeed one of our most valuable assets. It can be cultivated through transparency, consistent communication, and showing a commitment to mutual goals. We aim to create an environment where stakeholders feel secure in their investments and collaborations. This means being transparent about our policies and actions, and ensuring that we are accountable to our partners and the public.
Editor: You highlight the importance of time in your response. How can the Central Bank ensure that responses to challenges are timely and effective?
Martin Galstyan: Timeliness hinges on reliable data and proactive analysis. We are investing in market intelligence capabilities that will help us identify potential challenges before they escalate. Additionally, we’re creating a framework for rapid decision-making, allowing us to respond swiftly without sacrificing thoroughness or oversight.
Editor: Looking to the future, what is your vision for the economic landscape of our region in collaboration with European partners?
Martin Galstyan: My vision is one of integration and resilience. I see a landscape where our economies are interconnected, fostering not only growth but also stability. Through collaboration, we can tackle common challenges, drive innovation, and ultimately improve the quality of life for our citizens. A unified approach can unlock tremendous potential.
Editor: Thank you, President Galstyan, for these insights. It’s clear that the path ahead, while challenging, is also filled with opportunities for growth and cooperation. We appreciate your leadership and commitment to navigating these complexities.
Martin Galstyan: Thank you for having me. It’s crucial that we come together to face these challenges, and I am optimistic about the future we can build through collaboration.