Yerevan, December 28 /Mediamax/. Chairman of the Central Bank (CB) of Armenia Tigran Sarkisian summed up the financial results of 2006.

Mediamax reports that speaking in the evening of December 27 at a reception in the CB, Tigran Sarkisian stated that the best result of 2006 is the inflation index. He noted that as of the end of the year, there is a 5% inflation index secured and the average inflation index of 2006 made 3%.

Tigran Sarkisian described the basic indices of the money-credit policy as “unexampled”. In particular, the AMD amount has increased by 46% and makes 327bln AMD, the money amount has increased by 30% and makes 474bln AMD, the money basis has increased by 38%, thus making 277bln AMD.

Due to these indices, Tigran Sarkisian noted, the level of dollarization decreased by 10% and for the first time during the history of independent Armenia, more than 50% of the banking assets are in the national currency.

CB Chairman stated that in 2006 the capital of the banking system increased by 26%. At that, he noted, the level of profitability is high: the commercial banks conclude the year with 16bln AMD profit, which is by 30% more, as compared to the last-year index.

Credit organizations have also showed high speeds of growth. In 2006, there were 7 new credit organizations established, and now there are 17 of them in Armenia. The capital of credit organizations has increased by 75%.

Tigran Sarkisian stated that despite the decrease of number of insurance companies (by the end of the year there remained 17 of them instead of 23 in the beginning of the year), the capital of insurance companies has increased by 29%, and the profitability of the insurance system has grown by 87%.