CB official: Hike in gas and electricity prices will not affect banking system
The pending hike in gas and electricity prices will not affect the banking system, Andranik Grigoryan, a senior official at the Armenian Central Bank, told reporters on June 3.
The head of the Financial System Stability and Development Department says Armenia has ‘well-capitalized banks, and they can absorb such risks.' The problem is whether the banks will be able to withstand different types of risks.
"We are trying to assess their capacities through stress tests. Our banks are well capitalized and careful considering various types of fluctuations," said the CB official.
The recurrent issue of "Financial Stability Report 2012" has come out recently in which Armenia is said to have retained its financial stability on a satisfactory level, with no increase observed in financial risks.
The developments in the global economy and domestic macroeconomic environment have not affected the level of risks in the financial system, either.
