In February, deposits in Armenia increased by 2.1 percent and loans by 0.5 percent, according to a report published by the International Bank on Armenia’s economic development. The report indicates that the financial sector’s indicators remained stable in February. It also predicts that by 2024, the growth rate will reach 4.1 percent, compared to 2.7 percent in December 2023. The capital adequacy ratio experienced a significant increase of 19.2 percent in February 2024. The report further states that the non-performing loans ratio improved to 2.2 percent and attributed the increase in deposits to a rise in declared deposits. Loans increased by 0.5 percent, with a rise in undeclared loans leading to a decrease in non-performing loans by one percent. Consequently, the loan dollarization coefficient fell from 35 percent to 36 percent in February 2024 compared to the previous year’s corresponding period.

Source: News from Armenia-NEWS.am