Annual Report 2019
Central Bank of the Republic of Armenia
Notes to the 2019 consolidated financial statements
4.
Interest income
In thousands of Armenian Drams
Interest income from foreign currency assets
Nostro accounts
Term deposits
Placements with the IMF
Other
Total interest income from foreign currency assets
2019
2018
2,754,182
382,698
1,354,020
597,257
24,634
18,015
70,469
99,022
3,231,983
2,068,314
Interest income from domestic currency assets
Placements and investments with banks and other financial institutions
Financial assets measured at fair value through other comprehensive
income
30,722,771
24,458,016
1,317,084
1,458,881
Total interest income from domestic currency assets
32,039,855
25,916,897
35,271,838
27,985,211
Total interest income calculated using effective interest rate
5.
Interest expense
In thousands of Armenian Drams
2019
2018
Interest expense on foreign currency liabilities
Other borrowed funds
3,676,153
3,735,460
Due to the IMF
2,518,184
2,810,517
Total interest expense on foreign currency liabilities
6,194,337
6,545,977
Interest expense on domestic currency liabilities
Due to the Government (Note 27)
13,737,026
8,049,811
Debt securities issued
677,398
710,782
Deposits and accounts of financial and other institutions
Other
281,005
1,034,651
202,443
135,818
Total interest expense on domestic currency liabilities
14,897,872
9,931,062
Total interest expense
21,092,209
16,477,039
6.
Net foreign exchange loss
In thousands of Armenian Drams
2019
2018
Net loss from foreign exchange translation
Net gain on spot transactions
Total net foreign exchange loss
(1,982,331)
526,539
(1,455,792)
(3,335,741)
349,174
(2,986,567)
Included in the net loss from revaluation of monetary assets and liabilities is a foreign exchange translation loss of
AMD 7,563,296 thousand on financial instruments at fair value through profit or loss (2018: loss in the amount of
AMD 8,455,505 thousand).
7.
Net (loss)/gain on derivatives
In thousands of Armenian Drams
2019
Net (loss)/gain on forward contract with the Government (Note 27)
Net gain/(loss) on swaps under own management
(453,848)
Net loss on futures under own management
5,851
(29,635)
Total net (loss)/gain on derivatives
2018
552,850
(59,840)
(24,208)
468,802
(477,632)
In accordance with the agreement dated 5 January 2007 with the Government, the Bank is obliged to exchange main
foreign currency denominated state budget inflows and outflows at exchange rates determined in the Government's
budget message for the given year, which is a basis for the calculation of indexes in the Law on the State Budget of the
Republic of Armenia. Gain or loss of the Bank as a result of such foreign currency exchange operations is accounted for
as result on derivatives.
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