Risk management prioritized in Armenian banking system: UBA chairman

21.02.2012 17:19
Risk management prioritized in Armenian banking system: UBA chairman

YEREVAN, February 21. /ARKA/. The risk management appears as a priority for the Armenian banking system for the nearest future, the Union of banks of Armenia (UBA) chairman, Ashot Osipyan, said on Tuesday.

“Our banking system is an international one and our priority of all times is the risk management. Last year we tried to stave off the shocks and the scenario that occured in European and other developed financial markets,” he said.

According to the chairman, the risk management, in particular, embrace stress-tests, as well as liquidity and credit risks management. Osipyan also highlighted agriculture determining risks in lending.

“In this sphere, besides evaluated risks, there are also unforeseen climatic factors,” he said and added that the banking system didn’t report any serious problems last year.

According to UBA, lending in agriculture rose 36% to 74.6 billion drams in 2011.

All 21 banks operating in Armenia were among the top 1000 taxpayers in 2011. The total amount of taxes paid by the banks increased 1.7 times in 2011 from a year earlier. The number of bank brunches climbed 7.4% to 463 at the end of 2011. -0-


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