Time of intensified banking activity is approaching in Armenia, Ararat Ghukasyan, chairman of Armenian Union of Banks told journalists today. "Indefinite situation of 2009 has been overcame, and in 2010 we will witness these changes," he said.

According to him the banking system of Armenia will face the following challenges in 2010: quality service, lending volumes.

Over the past year Armenian banks have significantly increased the amount of capital, and today the Armenian banking system does not experience problems of capitalization. "The level of capitalization of Armenian banks is much higher the level required by international standards," Ararat Ghukasyan said.