Average loan interest rate increased by 0.2p.p. to 14.6% in Armenia in October

Banks

YEREVAN, November 29. /ARKA/. Average interest rate on loans was 14.6% in Armenia in October, which is an increase of 0.2 percentage points against September, Armenia’s Central Bank reported.

Average rate on loans in drams grew by 0.2p.p. up to 16.7%, that on loans in foreign currency rose by 0.3p.p. to 13.4%.

Average loan interest for legal entities was 12.4% in the period, an increase of 0.5p.p. against September.

Meanwhile, the average interest rate on loans extended to individuals remained unchanged in October against September – 17.7%.

There were 21 commercial banks registered in Armenia by the end of October, 2012. ($1=405.71drams). –0–

spot_img

POPULAR

Economy

Armenia expects to reduce public debt to 45% of GDP within five years: Deputy Finance Minister

The Armenian government aims to bring the public debt-to-GDP ratio to 45%, approximately within five years, stated Deputy Finance Minister Avag Avanesyan.
Economy

An additional 10 billion drams will be allocated for a cashback program for pensioners in Armenia

An additional 10 billion drams will be allocated from the 2026 state budget of Armenia for a cashback program for pensioners making non-cash payments.
Banks

Head of Central Bank allowed for a reduction in loan rates in Armenia, but with a caveat

Interest rates on loans in Armenia may decrease if favorable inflation and geopolitical conditions persist, stated Martin Galstyan, Chairman of the Central Bank of Armenia, on Public Television.
Banks

Head of CBA has ruled out excess profits at banks

The idea of ​​excess profits in the Armenian banking system is unfounded, and banks themselves remain one of the most transparent sectors of the country's economy.
Announces

Institute of Theater and Cinematography has implemented the latest video editing software

A new stage of development has begun at the Yerevan State Institute of Theater and Cinematography.

LATEST NEWS

spot_imgspot_imgspot_img
Previous article
Visa, MyUS.com open american internet shops’ doors to Armenian buyers
Next article
Areximbank-Gasprombank Group records 42% increase in money transfers from individuals in 10 months of 2012
Areximbank-Gasprombank Group records 42% increase in money transfers from individuals in 10 months of 2012