2024-08-27 23:20:28
In the first quarter of 2021, the total capital in the banking system increased by about 17 billion drams or by 1.8%, and compared to 31.03.2020 it increased by about 51 billion drams or by 5.9%, the head of banks of Armenia announced today at a meeting with journalists. Seyran Sargsyan, executive director of the union.
“The growth is mainly due to the fact that, in the context of the events of the previous year, funds from the profits of the banks and by the owners were directed towards increasing the capital, providing additional buffers to face and overcome the challenges of the previous year,” said Sargsyan.
According to him, credit investments decreased by around 64 billion drams or 1.5% in the first quarter of 2021, and increased by around 265 billion drams or 6.9% compared to 31.03.2020.
Touching on the problem of non-performing loans in the credit portfolio, the Executive Director of BBM noted that this indicator is within manageable limits.
“This indicator is fluctuating and is currently within 7.1%. It should be noted that there were times when a higher figure was recorded. If we consider it in combination with the corresponding index of other countries, we will see that the volume of non-performing loans is quite low. This fact is also due to the significant number of credit holidays and revisions provided by the banks,” Seyran Sargsyan said.
In the first quarter of 2021, total liabilities decreased by about 2 billion drams or 0.02%, and compared to 31.03.2020, they increased by 13.9%.
Total deposits in the first quarter of 2021 decreased by around 7 billion drams (0.2%), and compared to 31.03.2020, they increased by around 173 billion drams or by 4.9%.