Armenian Credit Organizations Hit Record 103.4B AMD Investment Milestone in 2025

In a landmark year for the sector, the combined investment portfolio of Armenia’s 18 credit organizations surged to 103.4 billion AMD in 2025, marking an all-time high. This aggressive growth underscores the rising influence of the non-banking financial sector in capital formation and institutional asset management across the country.

Portfolio Composition

The 2025 year-end data reveals a strategic shift in asset allocation:

1. 41.0% – Available-for-Sale (AFS) Assets (42.3 billion AMD)
2. 27.7% – Held-to-Maturity (HTM) Securities (28.6 billion AMD)
3. 27.2% – Equity Stakes in External Entities (28.1 billion AMD)
4. 4.2% – Commercial Financial Investments

The dominance of Available-for-Sale instruments suggests that these organizations are prioritizing liquidity and tactical flexibility. By holding a significant portion of their portfolio in tradeable assets, they are well-positioned to pivot in response to market volatility or emerging opportunities.

Should this upward trajectory persist, the investment activity of credit organizations is poised to become a primary catalyst for the development of Armenia’s broader financial markets. Their evolving role suggests a transition from traditional lending toward a more sophisticated, multi-asset class investment approach.