Central Bank of Armenia chair hails Karabakh’s banking system

PanARMENIAN.Net - The chairman of the Central Bank of Armenia Artur Javadyan is satisfied with the banking system in Karabakh, welcoming the state of the banks’ assets as well as crediting capacity, with the credit portfolio quality exceeding that of Armenia.

As Mr. Javadyan told a news conference in Yerevan, 8 banks are currently operating in Karabakh, providing an adequate competitive environment in the republic. Operating in Karabakh are Artsakhbank, Converse Bank, Ardshininvestbank, Armbusinessbank, Armeconombank, Araratbank ,Unibank and Ameriabank.

As the NKR Prime Minister Ara Harutyunyan told PanARMENIAN.Net no new banks are slated to open in Artsakh in near future, with current banking system fully covering the population’s needs.

As the official noted, the republic’s population is dissatisfied with crediting rates, the latters being much higher than needed. “Every day we negotiate the issue with the financial sector to be given more affordable rates,” he said.