About 86% of banks' profits in Armenia come from currency sales and purchases as well as exchange fees, said Chairman of the Central Bank of Armenia Martyn Galstyan on Monday.

His remarks came at the joint session of the parliamentary committees at the National Assembly of Armenia during the debates on the 2023 state budget draft.

According to the head of the Central Bank, non-residents usually constitute the bulk of clients.

"We have to understand that the banking system today serves not only residents of Armenia, but also a huge number of non-residents," Galstyan noted.