WB and IMF experts to assess Armenian banking sector’s stability

24.05.2018 13:19
WB and IMF experts to assess Armenian banking sector’s stability

YEREVAN, May 24. /ARKA/. The World Bank and the International Monetary Fund experts are conducting an assessment of the Armenian banking system’s financial stability, Arthur Javadyan, the central bank chairman, said Wednesday in the National Assembly.

“The experts are already rated highly the state of the Armenian banking sector, since everybody has seen how firm it was even amid mini crises – there we no problems in the banking system,” he said.

He said that starting from 2006 international organizations provide their assessment once in every six years. In 2006, international financial organizations assessed Armenian banks’ conformity with international standards at 65%, while in 2012, they won 93%.

Javadyan said that the banking system is more transparent sector in the country than any other sector, since banks are regularly undergone international audits and are included in the list of the 100 biggest taxpayers of the country.

“Not a single developed country has mediator organizations outdoing businesses – banks pay AMD 40 billion (excluding profit tax), while banks’ profitability is just 6% and margin from attracted and distributed means only 2%.” -0---

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