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  • Archive for May, 2020

    Union of Banks of Armenia: Biggest risk in country’s banking sector is uncertainty amid COVID-19

    Wednesday, May 27th, 2020

    The biggest risk in the banking system of Armenia and beyond it today is the uncertainty due to the new coronavirus, Seyran Sargsyan, the executive director of the Union of Banks of Armenia (UBA) told reporters at an online press conference on Tuesday

    Cashless transactions in Armenia grew by 23 percent in first quarter to 592 billion drams

    Tuesday, May 26th, 2020

    Cashless transactions made by using plastic cards increased by 22.9% in Armenia in the first quarter of 2020 to 592 billion drams, the Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference today

    Net individual money transfers to Armenia in first quarter of 2020 down by 16.7% to $87 million

    Tuesday, May 26th, 2020

    The net amount of individual money transfers sent to Armenia in the first quarter of 2020 decreased by 16.7% to $87 million, the Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference on Tuesday

    Armenian banks' loan portfolio grew by 0.5% in first quarter of 2020 reaching 3 trillion and 762 billion drams

    Tuesday, May 26th, 2020

    Seventeen Armenian commercial banks’ loan portfolio grew by 0.5% or 19 billion drams in the first quarter of 2020 reaching 3 trillion and 762 billion drams, up from 3 trillion and 743 billion drams at the end of 2019, Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference on Tuesday

    Armenian banking system’s total capital increased 2.1% in 1st Q 2020 to 862 billion drams

    Tuesday, May 26th, 2020

    The total capital of the banking system of Armenia for the first quarter of 2020 increased 2.1% to 862 billion drams, Seyran Sargsyan, executive director of the Union of Banks of Armenia, told reporters at an online press conference on Tuesday

    State Revenue Committee returns 3.4 billion drams of income tax for repayment of mortgage interests

    Monday, May 25th, 2020

    In the first four months of 2020 Armenia’s State Revenue Committee returned 3.4 billion drams of income tax for repayment of mortgage loans

    Pashinyan, Haroutunyan point out necessity of bolstering Artsakh’s banking system

    Friday, May 22nd, 2020

    Armenian Prime Minister Nikol Pashinyan and President of Artsakh Arayik Haroutunyan met today in Stepanakert with representatives of Armenia’s and Artsakh’s banking systems, the press office of the Armenian government reports

    Unibank introduces artificial intelligence in credit scoring

    Thursday, May 21st, 2020

    Unibank has updated credit scoring for unsecured consumer loans, introducing the technology of Artificial Intelligence (AI), the press service of the bank reported on Thursday

    Armenia is negotiating with PayPal and Skrill to lower minimum sales threshold

    Wednesday, May 20th, 2020

    Armenia is negotiating with PayPal and Skrill payment systems to lower the minimum sales threshold for launching the system here, Deputy Minister of High Technology Industry Stepan Tsaturyan said at an online conference today, organized by the Club of Economic Journalists and Konrad Adenauer Foundation

    Armenian central bank issues collector coins dedicated to three prominent artists

    Wednesday, May 20th, 2020

    The Central Bank of Armenia has issued three collector coins to mark the 150th anniversary of landscape painter Yeghishe Tadevossian’s birth, the 125th birthday of actor Hrachia Nersisyan and the 100th birthday of filmmaker Henri Verneuil