Financial brokerage level in Armenia reaches about 50%

14.06.2011 19:05
Financial brokerage level in Armenia reaches about 50%

YEREVAN, June 14. / ARKA /. Financial brokerage level in Armenia has reached about 50%, Central Bank of Armenia governor Artur Javadyan said today.

"It's a pretty high figure for Armenia. In 2008 it was 28%, and 13-14% in the late 90's, " he said at a news conference Tuesday summarizing the activities of the banking system of Armenia over the first five months of this year.

Javadyan said that the ratio of loans to GDP is about 30%, up from 16.7% in 2008 and 10% in the 90's.

"The index of non-performing loans, including non-standard loans, as of today is 3.4%," he said.

According to Central Bank governor, bank capital adequacy indicator currently stands at about 21%, which is quite high even if compared with developed European countries and developing countries, as well as much higher than the average for the CIS. -0-


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