YEREVAN, December 18. /ARKA/. Foreign debts of Armenia’s commercial banks and credit organizations totaled $1 157.6 million in late September after growing 1.5% over the third quarter, the Central Bank of Armenia reports in the latest issue of its bulletin.

The commercial banks and credit organizations attracted $647.4 million from abroad over the third quarter. They targeted $629.8 million in the third quarter for repaying the loans taken earlier.

According to the regulator’s bulletin, long-term loans made up 12.5% of the banks and credit organizations’ 3rd Q borrowings, and 25.1% of long-term loans were received from Germany, 24.6% from the Netherlands, 14.1% from Russia, 12% from Luxembourg, 6.2% from Austria and 4% from international organizations.

Russia, with its 16.8-percent share, was the largest lender to Armenia’s commercial banks and credit organizations in late September. Luxembourg (14.3%) was the second biggest creditor and the Netherlands (8.9%) the third.

Besides, about 34.3% of loans have been extended by international organizations.
The loans have been extended at 6.2% interest rate, on average.

Loans with a floating interest rate (LIBOR, EURIBOR etc.) made up 48.7% of foreign lending.  The average term of repayment was 4.2 year.

The share of the short-term loans reduced to 10.9% of the aggregate loans. ($1 – AMD 527.2). ----0----