YEREVAN, May 25. /ARKA/. The consolidation of Armenia’s banks has enhanced the system’s financial stability and liquidity, Andranik Grigoryan, chief of the central bank’s division in charge of development of the country’s financial system, told journalists on Wednesday.

“Consolidation of banks and inflow of the capital had positive impacts on the country’s financial system and enhancement of its banking system’s stability significantly increasing its competitiveness and room for serving the economy for long period of time,” he said.

Four consolidations of banks were registered in 2016, he said, and thanks to that only 17 commercial banks remained in the country and their regulatory capital was built up a great deal.

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Consolidation of Armenian banks prompted by the central bank’s decision to raise the minimum amount of commercial banks’ total capital to 30 billion drams from the current 5 billion drams will lead to major losses, Zoya Tatevosyan, an economist, is quoted by Chorrord Ishkhanutyun newspaper

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Consolidation of Armenian banks, which will fail to meet a new minimum capital requirement, set by the regulator, will only strengthen the banking industry, according to economist Vilen Khachatryan

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Consolidation of Armenia’s banks is unavoidable, member of Ameriabank CJSC Managerial Board Ruben Vardanyan told reporters in Yerevan on Thursday

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