Armenia’s banking system was able to resist financial crisis consequences due to its high capitalization, Head of World Bank Yerevan Office Aristomene Varoudakis said.
“Until now, Armenian banking system has been strong enough. Despite the crisis, banks stay capitalized, with capital equivalence comprising 28%,” he said. “There are only 8% of inactive credits in Armenian banking system, still they do not affect the system as a whole.”
