YEREVAN, May 11. / ARKA /. Armenian banks, crediting organizations and insurance companies committed 697, 226 and 417 breaches (of law and regulations) respectively in 2010, the Central Bank of Armenia (CBA) said in report on the country’s financial system. The report called Financial System of Armenia: Development, Regulation and Supervision, says banks, crediting organizations and insurance companies committed 509, 88 and 228 breaches of legislation respectively.

The report says also the banks committed 99 breaches by providing unauthentic data, 32 breaches concerned improper keeping of record of crediting registry, 31 breaches were about wrong bookkeeping, 10 breaches were about wrong classification of assets, 2 breaches were violation of standards.

Crediting organizations were said to have committed 19 breaches regarding keeping record of crediting registry, 10 breaches were about wrong bookkeeping, 3 breaches were about providing wrong data.

Categories: Banks @en, General news, News, News of the hour | Comments Off on Armenian banks, crediting organizations and insurance companies commit 1,340 breaches in 2010: report says

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