“Armenia’s Financial Sector Shows Positive Growth: Deposits Increase by 2.1% and Loans by 0.5% in February, Report Reveals”
According to the International Bank’s report, Armenia’s financial sector indicators remained steady in February. Deposits increased by 2.1% and loans by 0.5%. The report predicts a growth rate of 4.1% by 2024. Capital adequacy improved by 19.2%, while non-performing loans ratio decreased to 2.2%. Undeclared loans increased, lowering non-performing loans by 1% and reducing loan dollarization. Trending news from Armenia.
Ararat Bank to Distribute $5 Million in Loans, Offering High Liquidity and Favorable Terms
Ararat Bank to distribute loans, starting March 26-June 26. 200 loans available with a total amount of 5 million USD. Favorable for inclusion in the AMX Fund, providing high liquidity. New clients can open USD bank accounts without service fees and securities accounts without storage fees. More info: link.
Village of Khachik Debt Crisis Resolved: Prime Minister Clears Loans for Affected Residents
The village of Khachik in Armenia faces a debt crisis as two residents put the entire community at risk. Prime Minister Pashinyan calls it a criminal act, suspending construction and placing the village on a loan blacklist. However, a decision has been made to forgive the debt of affected residents, providing them an opportunity to take out new loans. It has been revealed that 77 individuals have fallen victim to fraud.
“Government Program Provides Social Assistance in Rural Communities – 350 Households Benefit, 180 Already Receive Loans”
The government program for rural social assistance is currently benefiting 350 households, with 180 already receiving loans. Urban residents can participate by meeting certain conditions such as having property rights, construction permits, and applying through partner banks. The program is open to all ages and residency duration is not required for children. Approved rural communities and the list of partner banks are provided in the article.