YEREVAN, MAY 19, ARMENPRESS. The general capital of Armenia’s banking system grew 1,8% or 17 billion drams in 2021’s Q1 compared to the previous year’s same period, the Executive Director of the Union of Banks of Armenia Seyran Sargsyan said at a press conference.

“We attach importance to the banking capital’s indicators, because they ensure the system’s stability, ability to withstand stresses and contribute to the expansion and development of the banks’ activities,” he said, adding that the capital grew as a result of the profit which the banks accumulated throughout years and investments made by the owners.

According to Sargsyan, the general capital has been constantly growing since 2010, which in his words is an important indicator.

Editing and Translating by Stepan Kocharyan