Tigran Sargsyan assesses the growth of the banking sphere as `unprecedented’

armradio.am
27.12.2007 14:56

Unprecedented indices of economic growth have been registered in the
baking system of Armenia, Tigran Sargsyan, the President of the Central
Bank of Armenia, declared at the traditional reception organized in
honor of the bank leaders. According to Mr. Sargsyan, in the passing
year the growth in the banking sphere reached 40% in the passing year.
Tigran Sargsyan specially emphasized the fact that this year `the
Armenian banks registered unprecedented high indices.’

In 2007 the growth of loans reached 72%, the volume of mortgage loans
doubled as compared to the indices of 2006, Tigran Sargsyan said.

The President of the Central Bank noted that the revenue of the
insurance companies of Armenia has doubled in the passing year.