YEREVAN, May 18. \/ARKA\/. Valery Ovsyannikov, director general of VTB Bank (Armenia), speaking Wednesday in Novosti International Press Center, said the bank can\u2019t run the risk of lowering interest rates on loans.<\/p>\n
\u201cBanks are ready to lower their interests, but we are not ready to run such a risk,\u201d he said.<\/p>\n
Ovsyannikov said that interest rates on loans were going down in the recent months.<\/p>\n
\u201cToday we finance good, reliable and large clients at least at 10%, and I think this interest rate will remain unchanged and will hardly to be lowered, since there is certain cost of the resources banks take from markets,\u201d he said.<\/p>\n
Businesses want to borrow cheaper money, he said, but banks can\u2019t afford to extend loans at lower interests, since cheap financial resources are taken from international sources.<\/p>\n
Speaking about lending to small entrepreneurship, Ovsyannikov said that loans extended to small businesses are too high.<\/p>\n
\u201cSmall entrepreneurs are not properly protected to do their businesses transparently, to gain clean profits and show them to a bank to convince it to finance them from cheaper resources,\u201d the banker said.<\/p>\n
Many banks, he said, have already started lending money at interest rates ranging between 12% and 14%.<\/p>\n
According to the central bank\u2019s figures, interest rates on short-term loans extended to legal entities in Armenian drams and foreign currencies were lowered from 13.9% and 10.8% in December 2010 to 12.9% and 10.6% respectively in March 2011.<\/p>\n
Interests on loans extended to legal entities in drams and foreign currencies for longer-then-one-year terms were lowered as well \u2013 from 14.3% and 12.4% in December 2010 to 13.8% and 11.7% respectively in March 2011. -0—<\/p>\n","protected":false},"excerpt":{"rendered":"
Valery Ovsyannikov, director general of VTB Bank (Armenia) said the bank can\u2019t run the risk of lowering interest rates on loans.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12613,12294,15826,524],"class_list":{"0":"post-23278","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-banks-en-en","7":"category-news","8":"tag-interest","9":"tag-loan","10":"tag-vtb-bank-armenia-2","11":"tag-524"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/23278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=23278"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/23278\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=23278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=23278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=23278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}