Armenia has a high level of confidence in the banking sector, the executive director of the Union of Banks of Armenia Seyran Sargsyan told reporters on Friday.
According to him, this can be seen in the stable growth of deposits of individuals, as well as in the absence of a sharp outflow of capital.
“The growth of trust will continue, especially with the introduction of a cashless services system,” he said.
Seyran Sargsyan highlighted the importance of working to increase the financial literacy of the population in order to reduce risks in obtaining financial services.
“Prices for services will also decrease, as the need to turn to intermediaries will disappear. In addition, the number of financial frauds will be reduced,” he explained.