Head of Financial Stability Department of the Central Bank of Armenia (CBA) Vahe Vardanyan said that, according to the CBA estimates, income of the banking system of Armenia may amount to AMD 20bln that is insignificantly lower as compared with the 2008 index.

The banking system has already secured AMD 8bln income, while the controlled income of the Armenian banking system totaled AMD 8.4bln in 2009.

Vardanyan noted that market development is currently hampered by dollarization. “The CBA’s primary goal is to tackle the market’s dollarization, and we take relevant steps to this end,” he said.