ArmInfo.

ArmInfo.

ArmInfo. The mining industry has been and remains the most stable pillar of the Armenian economy, providing a significant portion of taxes paid to the state budget.   This is stated in the next statement of the Union of Miners and  Metallurgists of the Republic of Armenia.  

ArmInfo.

ArmInfo.5 November, 2020 Ameriabank has entered into long-term subordinated loan agreement with Symbiotics SA for USD 15 million, with possible increase up to USD 25 million. The funds qualify as Bank Tier 2 capital instrument under Basel III framework and are aimed at strengthening the overall capital position of the Bank.

ArmInfo.

ArmInfo.

ArmInfo.From December 1, 2020, an increased threshold for guaranteed bank deposits will come into force: for AMD deposits, a deposit of 16 million AMD is covered by  the guarantee instead of the previous 10 million AMD, and for foreign  currency deposits - an amount equivalent to 7 million AMD instead of  the previous 5 million AMD. The Union of Banks of Armenia reminds of  this in a message spread on December 1.

ArmInfo. The Central Bank of Armenia does not set as its direct task the management of the exchange rate of the national currency.

ArmInfo. During the period of hostilities, animal safety control measures were tightened, arriving in Armenia from Artsakh. The head of the Inspection Body  Georgy Avetisyan.announced it  at a December 1press conference on  food security of the RA.

ArmInfo. Armenia needs financial diversification to ensure financial stability. On December 1, at a meeting of the parliamentary commission on financial-credit  and budgetary issues, this was stated by the candidate for the  Council of the RA Central Bank David Nagapetyan.

ArmInfo.

ArmInfo.Ameriabank issued a Green Bond in EUR for the equivalent of USD 50 million, marking a milestone in the local financial market as the first ever Green Bond project in Armenia. The Green Bond was structured in accordance with internationally recognized ICMA Green Bond Principles (the GBP).

ArmInfo.

ArmInfo.The results of Eurasian Development Bank (EDB) experts' assessments indicate that above a threshold value of 37-38% of GDP, growing public debt still features a very small positive effect on economic growth of Armenia. This is stated in the published new Working Paper of the Eurasian Fund for Stabilization  and Development WP20 / 04 "Optimal Debt and Quality of Institutions".

ArmInfo.Stepanakert Branch of Converse Bank will reopen on 30.11.2020. The Branch will render comprehensive services to the customers on a regular basis from Monday to Friday, 9:30-17:00.

ArmInfo.

ArmInfo. The Territorial Development Fund of the Ministry of Territorial Administration and Infrastructures of Armenia continues to contribute to strengthening  the potential of the republic's communities. Another beneficiary of  the "Social Investments and Local Development" program is the  enlarged community of Kapan, Syunik region.

ArmInfo. The growth of non-performing loans accelerated in the banking system of Armenia. Thus, the share of NPL in the loan portfolio increased in Q3 from  8.3% to 9%, and in assets it reached 6.1%, against 9% and 5.9%,  respectively, recorded a year earlier.

ArmInfo. In Armenia, the decline in economic activity in January-October 2020 deepened to 6.7% per annum, against the backdrop of an accelerating decline in imports  and a slowdown in exports.