Fri, 13 June
22.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

External debt of Armenia commercial banks and credit organizations in Q 2 dropped d by 1.4 percent to $1.04 billion

YEREVAN, September 13. / ARKA /. The external debt of Armenia-based commercial banks and credit organizations in the second quarter of 2013 dropped by 1.4 percent from the previous quarter to $1.04 billion, according to the Bulletin of the Central Bank of Armenia for the second quarter. It says commercial banks and credit organizations attracted $714.3 million in foreign loans in the reporting period of time and repaid $691.1 million on earlier attracted loans.

Some 13.1 % of loans were long-term, including 25.7 % from Russia, 23.8 % from Luxembourg, 8.2% from Latvia and 27% from international lending organizations.

In the second quarter the major creditor countries were Russia (17.5 %), Luxembourg (10.4% ), the Netherlands (7.4% ) and Germany ( 4.6%). International organizations accounted for 38.8 percent of loans.

The weighted average interest rate on loan funds raised by Armenian financial institutions in the second quarter showed a slight increase to 5.8 %. About 38.2 % of external loans were loans with a variable interest rate (LIBOR, EURIBOR , etc.). The average maturity of the loans was 4.5 years.
In the same time span the proportion of short-term loans decreased by 2.6 percentage points to 8% of all attracted lending. ($ 1 – 409.41 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Investment opportunities in Armenia discussed by Finance Minister and new ADB President

YEREVAN, May 12. /ARКА/. Finance Minister Vahe Hovhannisyan discussed investment opportunities in Armenia and the region, as well as reforms aimed at stimulating economic growth, with newly appointed Asian Development Bank (ADB) President Masato Kanda.

In 2025, income tax refund will not exceed 100 billion drams – SRC head

In 2025, the income tax refund will amount to 100 billion drams - approximately 95 billion drams, said Chairman of the State Revenue Committee of Armenia Eduard Hakobyan.

LATEST NEWS

spot_imgspot_imgspot_img