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    Emil Lazarian
  • 3 years ago
    • Categories: 2022

Lending activities grow in Armenia, says cenbank governor

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 16:04, 3 May, 2022

YEREVAN, MAY 3, ARMENPRESS. A growth in the lending activity was recorded in Armenia last year in all loan types, especially in mortgage loans, the Central Bank Governor Martin Galstyan said at a press briefing on the 2021 financial stability report.

“A growth of activity was recorded in the lending market in 2021. By successfully overcoming the unfavorable impacts of 2020’s shocks, growth trends were recorded in all areas of lending starting Q2 of 2021,” he said.

The financial cycle index grew, which reflects the dynamics of the financial market growth and loan activeness. Developments in the mortgage market greatly contributed to the growth of the financial cycle.

Galstyan noted that in order to more effective address the risks in the mortgage market they introduced the LTV (Loan-To-Value) maximum limit requirements.

He added that in 2021 both the quality of the loan portfolio and the ability to absorb risks of banks improved.

Emil Lazarian: “I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS