Average interest rate on long-term dram loans drops 0.45 p.p. to 15.95% in November 2012

Economy

YEREVAN, January 16. /ARKA/. Average interest rate on long-term dram loans slid 0.45 percentage points in November 2012, compared with the previous month, to 15.95%, while that of long-term loans in foreign currencies rose 0.25 points to 13.6%.

According to the information posted on the central bank’s website, average interest rate on lending remained unchanged in November, compared with October.

Loans for legal entities were extended at 12% interest rate – 0.4 points down, and those for individuals at 18% – 0.27-percent decrease.

Twenty one commercial banks operated in Armenia in late November 2012. ($1 – AMD 407.58). -0-

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Average interest rate on long-term dram loans drops 0.45 p.p. to 15.95% in November 2012