YEREVAN, May 26. /ARKA/. 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.

In his words, the end of the first quarter of 2020 coincided with the period of the measures being taken to prevent the spread of coronavirus, which affected the banking system, development trends and the entire economy.

"The total capital of the banking system of Armenia in the first quarter of 2020 amounted to 862 billion drams, which is 18 billion drams or 2.1% more than at the beginning of the year (844 billion drams by the end of 2019), due to an increase in the authorized capital in two banks. The total capital growth in recent years has been quite sharp, from 2014 (436 billion drams) to this day, the total capital of banks has almost doubled," Sargsyan said.

He also said that the assets of Armenian banks in the first quarter of 2020 amounted to 5 trillion 907 billion drams (5 trillion 805 billion according to the end of 2019), an increase by 102 billion drams or 1.8%.

He also noted that liabilities for the first quarter of 2020 totaled 5 trillion 45 billion drams, which is 85 billion drams or 1.7% more than at the end of 2019.

At the same time, liabilities to customers for the reporting period slightly decreased (by 1.4%) and amounted to 3 trillion 427 billion drams.

Today, 17 commercial banks operate in Armenia. ($ 1 – AMD 483.00). -0-