Armenian Banking Sector Study 2020
Amid turbulent year the banking sector reported impressive growth and solid profitability, however there is outlook for higher risks.
Despite the 7.6% economic decline, the banking sector of Armenia registers a solid growth in 2020. Total assets grew by 14.52%, loan portfolio by 13.44% and liabilities by 15.98%.
All banks reported profit for 2020, and total profit of the system was over AMD 60 billion.
However, risk and negative outlook showed increased reserves on assets of banking system, by as much as 36.92%.