YEREVAN, November 29. /ARKA/. Average interest rate on loans was 14.6% in Armenia in October, which is an increase of 0.2 percentage points against September, Armenia’s Central Bank reported.

Average rate on loans in drams grew by 0.2p.p. up to 16.7%, that on loans in foreign currency rose by 0.3p.p. to 13.4%.

Average loan interest for legal entities was 12.4% in the period, an increase of 0.5p.p. against September.

Meanwhile, the average interest rate on loans extended to individuals remained unchanged in October against September – 17.7%.

There were 21 commercial banks registered in Armenia by the end of October, 2012. ($1=405.71drams). –0--