Tuesday, 22 November 2011
RA Prime Minister’s Message on the Occasion of the Bank Employee Day and the 18th Anniversary of the Release of the Armenian Dram
Dear colleagues,
Today the Republic of Armenia celebrates the Bank Employee Day. This is a symbolic date in the history, because on this day in 1993 the national currency of newly independent Armenia – dram, was released. Today we are celebrating the 18th anniversary of our national currency. As with any other teenager, the dram has also had many difficulties on its way; our national currency has been developing in parallel with the formation of the banking system.
It is due to you, that the banking system is now one of the most developed branches of economy in our country. In over two decades of its existence it has had its ups and downs, and has even shown ability to face the challenges of the global financial crisis in 2009. The RA banking system was one of the few systems in the CIS and even around the world, which did not demand any interference by the state to counter the crisis.
It is due to you that the RA banking system risks, in accordance with the international best experience, have always been manageable. This is evidenced by the RA citizens’ trust towards the banking system, the striking evidence of which is the steady growth of the total amount of deposits during the last two years. Other factors describing the banking system have also had positive dynamics, in particular, the growth of the lending volume, lowering of interest rates and so on.
However, along with all of these achievements, there are still numerous issues to be solved in this area. We should not forget that there is a big responsibility thrust upon the banking system, because it plays an efficient part in the dynamic development of the economy.
Once again congratulating the employees of the banking system on their special occasion, I wish them further luck and success.
