News - Central Bank official: Banking services very accessible for Armenia citizens, businesses

Armenian citizens pay very little when using banking services. Garegin Gevorgyan, Director of the Financial System Stability and Regulation Directorate of the Central Bank of Armenia (CBA), stated this in the National Assembly Wednesday, during a meeting with MPs. Gevorgyan assured that the picture is almost the same in the case of legal entities, and banking services in Armenia are very accessible for businesses, too. In his assessment, the bank fees for services provided to individuals have not changed in Armenia last year, and most of these services are generally provided free of charge. "The number and amount of bank transfers within Armenia have increased by 10 percent compared to 2022. Seventy-five percent of the transactions were carried out online, through online banking. In 91 percent of cases, the transfers were free, and no money was charged for these transactions. It’s about the [Armenian national currency] dram transactions between residents in the territory of Armenia," added the CBA official.