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ABOUT THE CBA
History
Financial Banking system in 1999-2009
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There were 39 commercial banks registered as of January 1992; 51 commercial banks as of January 1993; 58 commercial banks, 62 pawnshops and 7 insurance companies as of January 1994. The total capital of commercial banks estimated 283 thousand drams. |
There were 51 commercial banks and 18 pawnshops as of January 1995. The total capital of commercial banks estimated over 3 billion 545 million drams. |
Commercial banks reduced to 35 in January 1996. The total capital reached 7 billion 263.9 million drams. |
There were 34 commercial banks as of January 1997 with total capital of 10 billion 673.8 million drams, paid-up statutory capital 8 billion 765.2 million drams. Non-resident participation made up 3 billion 617.3 million drams. |
There were 31 commercial banks as of January 1998 with total capital of 15 billion 732.1 million drams, paid-up statutory capital 13 billion 700.4 million drams, non-resident participation 5 billion 257.7 million drams. |
There were 30 commercial banks as of January 1999 with total capital of 26 billion 374.5 million drams, paid-up statutory capital 18 billion 802.7 million drams, non- resident participation 7 billion 884.9 million drams. |
There were 31 commercial banks as of January 2000 with total capital of 33 billion 96 million drams, paid-up statutory capital 22 billion 841.2 million drams, non- resident participation 10 billion 293.3 million drams. |
There were 31 commercial banks, with 178 branches, operating in the Republic of Armenia as of January 1, 2001, with the total capital of Dram 33 billion 615,8 million, with the paid-in capital of Dram 29 billion 547,5 million. The non-resident portion was Dram 12 billion 555,4 million. |
There were 30 commercial banks, with 240 branches, operating in the Republic of Armenia as of January 1, 2002, 8 of which were placed under the special supervision as of January 1, 2002. The total capital of the 22 banks under the general supervision was Dram 34 billion 718,6 million, the paid-in capital was Dram 28 billion 910,6 million. The non-resident portion was Dram 16 billion 194,6 million. |
There were 25 commercial banks, with 231 branches, operating in the Republic of Armenia as of January 1, 2003, 5 of which were placed under the special supervision as of January 1, 2003. The total capital of the banks under the general supervision was Dram 42 billion 146,6 million, the paid-in capital was Dram 32 billion 735,9 million. The non-resident portion was Dram 16 billion 898,3 million. |
There were 20 commercial banks, with 232 branches, operating in the Republic of Armenia as of January 1 2004. One bank was operating under the special supervision as of January 1 2004. The total capital of the banks under the general supervision was Dram 50 billion 113,3 million, the paid-in capital was Dram 36 billion 769,0 million. The non-resident participation was Dram 17 billion 65,2 million. |
There were 20 commercial banks, with 233 branches, operating in the Republic of Armenia as of January 1 2005. The total capital of the banks under the general supervision was Dram 64 billion 735.3 million, the paid-in capital was Dram 40 billion 135 million. The non-resident participation was Dram 20 billion 988,5 million. |
There were 21 commercial banks, with 267 branches, operating in the Republic of Armenia as of January 1 2006. The total capital of the banks under the general supervision was Dram 94 billion 761 million, the paid-in capital was Dram 60 billion 928 million. The non-resident participation was Dram 30 billion 757 million. |
An inflation-targeting strategy in the recent years has been increasingly practiced in both developed countries and developing economies. The Central Bank of Armenia (CBA) was the first institution among its peers in the CIS countries that has moved to the fully-fledged inflation-targeting policy since January 2 2006. This policy provides that the primary goal of monetary policy, i.e. a low and stable inflation level is realized not only by following developments in the monetary base but also looking at other factors as well. In an inflation-targeting strategy, the primary tool is the refinancing (repo) rate which the Board of CBA sets each month.
Early in the year, CBA was entitled to regulatory and supervisory functions for the Armenian financial sector. The purpose of a unified system was to create a single, independent and effectively combined supervision and regulation framework; to ensure a sustainable and normal-functioning financial system, and to make sure rights and lawful interests of users of financial services and products (banking, insurance, and securities operations) are protected adequately.
The banking sector is the biggest player of the Armenian financial market. The sector accounts for approximately 95 percent of assets of the financial system.
As at January 1 2007, the Armenian financial market comprised:
- 21 commercial banks (with 299 branch offices), with:
- Total capital amounted to AMD 120.3 billion
- Total assets amounted to AMD 524.6 billion
- Total liabilities amounted to AMD 404.3 billion
- Paid-up statutory fund amounted to AMD 80.1 billion
- Nonresident equity amounted to AMD 35.7 billion
- 17 credit organizations (with 10 branch offices)
- 15 insurance companies and 6 insurance brokerage firms
- 64 pawnshops
- 288 exchange offices (including branch offices)
- 7 legal entity currency dealers
- 3 money transferring companies ('HayPost' CJSC, 'Armenian Express' CJSC, 'Depi Toun' LTD) and 1 organization dealing with processing and clearing of payment instruments and payment documents ('Armenian Card' CJSC)
- 20 brokerage firms specialized in the Armenian securities market. These 20 firms have been licensed appropriately; 6 of which have a license to trust management; 1 has a license to depository activities; and 2 are self-regulating entities (Armenian Central Depository and Armenian Stock-Exchange that trades foreign currency and securities).
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As at January 1 2008, the Armenian financial market comprised:
- 22 commercial banks (with 347 branch offices) accounting for round 92 percent of financial sector assets. The banks'
- Total capital amounted to AMD 171.6 billion
- Total assets amounted to AMD 764.5 billion
- Total liabilities amounted to AMD 592.9 billion
- Paid-up statutory fund amounted to AMD 116.5 billion
- Nonresident equity amounted to AMD 63.3 billion
- 21 credit organizations (with 40 branch offices)
- 10 insurance companies and 5 intermediaries (insurance brokerage firms)
- 65 pawnshops
- 283 exchange offices (including branch offices)
- 5 legal entity currency dealers
- 7 money transferring companies
- 4 payment instrument and payment and settlement document processing and clearing companies
- Securities market participants that include 15 specialized people, the Armenian Central Depository, and the Armenian Stock Exchange.
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As at January 1 2009, the Armenian financial market comprised:
- 22 commercial banks (with 380 branch offices) accounting for round 91 percent of financial sector assets. The banks'
- Total capital amounted to AMD 235.7 billion
- Total assets amounted to AMD 1trillion 24.2 billion
- Total liabilities amounted to AMD 788.5 billion
- Paid-up statutory fund amounted to AMD 152.5 billion
- Nonresident equity amounted to AMD 97.5 billion
- 25 credit organizations (with 48 branch offices)
- 11 insurance companies and 5 intermediaries (insurance brokerage firms)
- 67 pawnshops
- 289 exchange offices (including branch offices)
- 2 legal entity currency dealers
- 11 money transferring companies
- 7 payment instrument and payment and settlement document processing and clearing companies
- Securities market participants that include 10 investment firms, the Armenian Central Depository, and NASDAQ OMX Armenia.
As at December 1 2011, the Armenian financial market comprised:
- 21 commercial banks (with 442 branch offices) accounting for round 92 percent of financial sector assets. The banks'
- Total capital amounted to AMD 355.9 billion
- Total assets amounted to AMD 2 trillion 67 billion
- Total liabilities amounted to AMD 1 trillion 711 billion
- Paid-up statutory fund amounted to AMD 222.6 billion
- Nonresident equity amounted to AMD 168.8 billion
- 32 credit organizations (with 78 branch offices)
- 8 insurance companies and 4 intermediaries (insurance brokerage firms)
- 123 pawnshops
- 296 exchange offices (including branch offices)
- 1 legal entity currency dealers
- 10 money transferring companies
- 6 payment instrument and payment and settlement document processing and clearing companies
- Securities market participants that include 8 investment firms, the Armenian Central Depository, and NASDAQ OMX Armenia.
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