Abstract
The Russian-Ukrainian war has had significant impacts on both the region and Armenia, including positive effects on the banking system. On the one hand, the number of foreign visitors to the Republic of Armenia has increased, leading to a rise in cash flows and overall demand. As a result, significant changes have taken place in the banking system, mainly due to a rapid increase in demand deposits and the acceleration of growth of non-residents' investments in bank deposits. However, despite these developments , lending rates have not changed significantly, enabling the banking system to generate profits. This can mainly be attributed to an increase in non-interest income resulting from the internal and external consequences of the Russian-Ukrainian war. It can be said that the banking system is currently leveraging the consequences and limitations of the Russian-Ukrainian war, as well as the market situations resulting from it, to make a profit.
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