  Armenia's banking system face excess liquidityAugust 25, 2009 - 17:28 AMT PanARMENIAN.Net - The Armenian banking system faces excess liquidity, Emil Soghomonyan , the chairman of the Union of Banks of Armenia told a press conference on TuesdayAccording to him, for the moment the Armenian banks have 5-6% of "idle" loans. "This rate is very high for Armenia, because we have a small country and, consequently, a small market," he said. Emil Soghomonyan also noted that the banking system of Armenia has had very small amount of non-performing loans, and in 2008 that level did not exceed 1 per cent. "Even if the economy of Armenia is to face the second phase of the crisis, it will not shake the foundations of the banking system," Soghomonyan concluded.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Related sections Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
