Bank assets increased by 17%, bank capital by 14% and bank loans by 25%.

Javadyan pointed out higher-level financial intermediation in Armenia. The banking system’s assets currently constitute 46% of GDP – a 4.6% increase as compared with last year, and an 18% increase as compared with 2008.

Foreign institutional investors invested a total of 80 billion AMD (about U.S. $220 million). According to the CBA Chairman, some banks offer loans at an annual interest rate of 9-10 per cent to transparent and promising businesses.