3Q foreign debt of Armenia’s banks and credit organizations totals $1.06 bln

14.12.2012 18:55
3Q foreign debt of Armenia’s banks and credit organizations totals $1.06 bln

YEREVAN, December 14. /ARKA/. The foreign debt of Armenia’s commercial banks and credit organizations rose 1.9% to $1.06 billion in the third quarter against $1.04 billion from a quarter earlier.

According to the 3Q bulletin published by Armenia’s Central Bank, the loans to the commercial banks and credit organizations totaled $701.1 million within the reported period. The debt service valued at $662.7 million.

Long-term loans accounted for 22.8% of all loans. Within the reported period Russia accounted for 40.2%, the international organizations - 27.9%, Great Britain - 14.8%, Luxembourg- 12.7%.

As of 30 September 2012, the main creditors to the Armenian banks and credit organizations were Russia (21.5%), Luxembourg (8.8%), the Netherlands (6%). The international organizations allocated nearly 33.1%.

The average weighted interest rate on the received loans dropped to 5.9% from the second quarter.
About 45% of the foreign loans have LIBOR, EURIBOR and some other floating interest rate. The average maturity period is 5 years. The short-term loans fell to 7.7% of all credits within the reported period. —0-


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