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ARMENIA'S BANKING SYSTEM FACE EXCESS LIQUIDITY
PanARMENIAN.Net
25.08.2009 16:28 GMT+04:00
/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 Tuesday According 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.
PanARMENIAN.Net
25.08.2009 16:28 GMT+04:00
/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 Tuesday According 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.