YEREVAN. November 20. /ARKA/. The financial system remained solid with loans and deposits growing at 2 percent and 0.6 percent (mom), respectively, , the World Bank said in its Armenia Monthly Economic Update – November 2023.

It said the capital adequacy ratio marginally increased by 0.4 percent (mom) in September, and the ratio of non-performing loans to total loans increased from 2.8 percent in August to 3 percent in September.

Return on assets also increased by 0.1 percentage points to 3.2 percent in September. Credit growth was mostly driven by an increase in AMD denominated loans (up 2.2 percent, mom).

Total increase in credit to residents was mostly driven by an increase in loans to the services and other unidentified sectors (up 9 percent and 86 percent mom, respectively). -0-