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Doing business in Armenia

was created, which guaranties bank deposits in the amount of 4 million AMD for deposits made in drams and 2 million AMD for deposits made in foreign currency. Banking system capacities

The banking system is the biggest player of the Armenian financial market. The assets of the Armenian banking system increased by 32.5% (2,067 billion AMD as of 31 December 2011) and capitalization by about 11.6% (355.9 billion AMD as of 31 December 2011) during 2011. The net profit of Armenian banks reached 33.2 billion AMD.

The volume of loans by the Armenian banking system, extended up to 13,464 billion AMD by the end of December 2011, which is an increase of 35.9% compared with 2010. The borrowing interest rates remain relatively high and the conditions of bank credits provision are not very inspiring. Š 2012 Grant Thornton CJSC. All rights reserved. 21

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