The smooth-functioning financial and banking system of the country is vital in the light of the current situation. We talked to MherAnanyan, Chief Executive Officer and Chairman of the Executive Board of AraratBank, about the activities of Armenian banks, bank-customer and bank-state circles in the currentsituation.

- How does the banking sector of the Republic of Armenia, and AraratBank in particular, operate during martial law?

- The Armenian banking sector is a robust and established structure. The legislation of the Republic of Armenia and the legal acts of the Central Bank of Armenia have been drafted based on all possible cases, risks and situations. That is why our banking sector is quite flexible and resistant to any shock. AraratBank has been keeping its capital in accordance with set prudential standards. Liquidity is one of the most important ratios of the bank, and in this respect I can say with confidence that AraratBank is fully reliable in terms of high liquidity measures.

In order to provide the beneficiaries of commercial banks with more tangible support, government agencies have also put certain regulations in place. In particular, based on the decision of the Union of Banks of Armenia, where customers - either conscripted or joined the army voluntarily - fail to make monthly repayments after September 27, such payments will not be considered overdue and will not be reported to the credit register. No fines and penalties will accrue for this period either. This is the very human-centric workstyle that the banks are guided by.

It is natural that in such a difficult and tense situation, our customers and beneficiaries might be excited, confused, fail to take right and smart decisions when it comes to the transactions with deposits and loans. It cannot be ruled out that there will be customers who will question the stability of the financial and banking sector in this non-standard situation. AraratBank can fully fulfill its obligations towards its customers and depositors at any time. We continue to operate normally, maintaining a friendly atmosphere of mutual trust and showing an individual approach to each customer.

- How does the Bank team work in the light of the current situation?

- Especially in such cases, it is very important how the team is mobilized, and what approach and principles it applies when working. The atmosphere of the bank, the mood of the employees and their behavior have a great impact on the customers and operation of the bank. Self-organization is the only way to work effeciently in such situations, everyone must be in their place, continue to do their job even better, be more dedicated, more cautious and responsible.

I am proud to say that we witnessed the responsibility and spirit of our team from the very first day of the war. Our team responds immediately to any initiative to help Artsakh and the soldier, taking prompt and joint decisions to make a small but very significant contribution to helping Artsakh and the Army, starting from donating blood and ending with the  support tothe families and children from Artsakh.

Though AraratBank donated 40 million Armenian drams to the Hayastan All-Armenian Fund, our team has unanimously decided to transfer 1% of their monthly salaries to the fund for the next six months in order to provide regular assistance to Artsakh and the Army.

- What solutions and opportunities do you see to get out of this situation?

- It is the duty of each of us today to be stable and determined: we must all live, think and act within the framework of the ideology of unity, because any difficulty can be handeled only through joint efforts and unity.

Today it is exactly the time to rethink our priorities, our principles and our values. It depends on each of us to build a strong country, a strong army and a robust economy. This is what we call  the unity and we will overcome challenges thanks to that unity.

With our values, our workstyle and our principles we must try to be worthy of our heroes, to build and bolster our country through honest and dedicated work. We will be reborn like a phoenix from the ashes and will rebuild our future together.