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INTEREST RATES ON LOANS IN NATIONAL CURRENCY SHOWING DOWNWARD TREND
ARKA
JULY 22, 2010
YEREVAN
YEREVAN, July 22, /ARKA/. Artak Hanesian, Ameriabank CEO and chairman
of its Directorate, told a news conference today that the interest
rates on loans in the national currency, the Dram, are showing a
downward trend.
"Since the Dram liquidity over the last three months was quite high
and continues to remain high interest rates on loans in Drams are also
falling albeit not as quick as interest rates on loans in foreign
currency,' he said, adding that the Armenian trend is contrary to
the trends at global markets.
"Having in mind the weak link between Armenia's and global economies
we can have quite a different situation in our country. I mean that
the interest rates will continue their downward trend,' he said.
According to Armenian Central Bank data, interest rates on credits in
Drams repayable in 12 months dropped from 20.02% to 18.66% in May-June
and interest rates on loans repayable in more than 12 months fell
from 15.55% to 17.36%. Interest rates on loans in foreign currency
dropped from 14.05% to 13.65% and from 14.15% to 12.96% respectively.
The average weighted interest rate on loans in Drams repayable in
less than 12 months fell from 9.73% to 9.17%. The interest rates on
loans repayable in a little more than 12 months has grown from 10.43%
to 10.71%. The interest rate on loans in foreign currency dropped
from 6.10% to 5.96% and from Ó 8.31% to 8.18% respectively.
From: A. Papazian
ARKA
JULY 22, 2010
YEREVAN
YEREVAN, July 22, /ARKA/. Artak Hanesian, Ameriabank CEO and chairman
of its Directorate, told a news conference today that the interest
rates on loans in the national currency, the Dram, are showing a
downward trend.
"Since the Dram liquidity over the last three months was quite high
and continues to remain high interest rates on loans in Drams are also
falling albeit not as quick as interest rates on loans in foreign
currency,' he said, adding that the Armenian trend is contrary to
the trends at global markets.
"Having in mind the weak link between Armenia's and global economies
we can have quite a different situation in our country. I mean that
the interest rates will continue their downward trend,' he said.
According to Armenian Central Bank data, interest rates on credits in
Drams repayable in 12 months dropped from 20.02% to 18.66% in May-June
and interest rates on loans repayable in more than 12 months fell
from 15.55% to 17.36%. Interest rates on loans in foreign currency
dropped from 14.05% to 13.65% and from 14.15% to 12.96% respectively.
The average weighted interest rate on loans in Drams repayable in
less than 12 months fell from 9.73% to 9.17%. The interest rates on
loans repayable in a little more than 12 months has grown from 10.43%
to 10.71%. The interest rate on loans in foreign currency dropped
from 6.10% to 5.96% and from Ó 8.31% to 8.18% respectively.
From: A. Papazian