LIQUIDITY OF ARMENIAN BANKS EXCEED CENTRAL BANK’S REQUIREMENTS

ARKA
Nov 25, 2008

YEREVAN, November 25. /ARKA/. Liquidity standards of Armenian banks
are considerably in excess of the requirements set by the Central
Bank, Chairman of the Central Bank of Armenia (CBA) Artur Javadyan
told journalists Tuesday.

In particular, general liquidity standards of Armenian banks average
24-25% (with the CBA requirement at 15%) and the current liquidity
is an average of 93-94% (with the CBA requirement at 60%).

Liquidity of Armenian banks is sufficient and attraction of foreign
loans is just a means of support in resisting the further effects of
the world financial crisis, Javadyan said.

Today 22 commercial banks with 367 branches operate in Armenia. Total
assets of Armenia’s banking system had amounted to 954.1bln
Drams by the end of September this year with total capital
and liabilities amounting to 214.9bln Drams and 739.2bln Drams
respectively. ($1=$305.59Drams).