Abstract
The purpose of the article is to put forward and justify that the pandemics of Covid-19 and the third Karabakh war influenced the economy of Armenia and especially the banking system. The article aims to go deeper into the analysis of the banking system with concentration on the main performance evaluation indicators. Our task is to reveal and express in monetary terms the influence of the war and the pandemics on the performance of banking system. In the course of study, scientific and (analysis, calculations) and parametric (VaR calculation parametric method) methods were used. Based on the study it should be concluded that, as a result of the war, the depreciation doubled, and in a quarterly breakdown, the total net profit of the banking sector for the 4th quarter decreased by 9 times compared to the 3rd quarter, while the return on equity fell from 7.9% to 0.8%. Accordingly, the exposure to market risk has also increased, which is reflected in the Value-at-Risk index of the General Market Index. After the war, the 1% VaR GMI increased by 0.5 percentage points, and the 5% VaR increased by 0.6 percentage points.
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