Tue, 1 July
24.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

External debt of Armenian commercial banks and credit organizations drops to $1.154.4 trillion in first quarter

YEREVAN, June 10. / ARKA /. In the first quarter of 2014 the external debt of Armenian commercial banks and credit organizations dropped to $1.154.4 billion from $1.209.6 billion in the fourth quarter of last year, the Central Bank said in its monthly bulletin.

In the first three months of this year the commercial banks and credit organizations attracted $425.5 million in foreign borrowings and also repaid $475.6 million worth earlier attracted loans and interests.

Of foreign borrowings attracted in the first quarter, 5.6% were long-term loans. Interestingly, 29.3% of long-term loans came from Latvia, 11.5% from Luxembourg and 44.4% from various international lending organizations.

At the end of the first quarter this year  the main creditor countries of Armenian commercial banks and credit organizations were Russia (16.5%), Luxembourg – 12.5% and  the Netherlands – 7.6% and about 37.5% of the loans were provided by international organizations.

The weighted average interest rate of attracted loans was 5.9%. About 48.4% of foreign loans were with floating interest rates (LIBOR, EURIBOR, etc.). The average maturity period was  4.3 years.
During the reporting period, the share of short-term loans increased to 10.8% of all borrowed loans ($ 1 – 412.86 drams). -0-

spot_img

POPULAR

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

AMX Reaffirms Compliance with International ISO Standards

The Armenia Stock Exchange and Central Depository (AMX) have successfully completed their compliance certification with ISO 27001:2022 for Information Security Management and ISO 9001:2015 for Quality Management Systems.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img