YEREVAN. – Return on Equity (RoE) in Armenia's banking sector decreased from 14-15% to 9-10% in 2008-14, chairman of the Central Bank Arthur Javadyan told lawmakers on Monday.

Profitability is constantly decreasing due to increased competition between banks and reduced banking spread between lending and deposit rates.

Return on assets in the mentioned period has decreased, reaching approximately 1.2-1.5%.

Javadyan said that out of 21 banks, only two were operating at a loss but now they are on a positive track. These banks are ProCredit Armenia with German capital and Iranian Mellat Bank.