Sat, 6 September
26.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Interest rates on Armenian banks’ loans tend to decline

YEREVAN, June 11 /ARKA/. Interest rates on Armenia-based commercial banks’ loans show a downward trend, Araratbank Board Chairman Ashot Osipyan told reporters on Tuesday. According to him, in 2018 the rates also decreased, prompted by growing competition.

“There is another positive impulse coming from the international market this year that is supposed to push interest rates down in Armenia. It is the Libor that is declining,’ said Osipyan.

He said at the beginning of the year Libor was 2.8%, while at the moment the semi-annual Libor is 2.4%.
“I think that the policy of US President Donald Trump will not allow Libor to grow in 2019,” said Osipyan.

According to the Central Bank of Armenia, the average interest rates on loans provided for a period of up to 12 months decreased by 0.3 percentage points in April 2019 to 12.26%. Armenia’s Central Bank left the refinancing rate unchanged at 5.75% on April 20. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

LATEST NEWS

spot_imgspot_imgspot_img