YEREVAN, May 11. /ARKA/. Armenian banks’ loan interest rates rose by 2.85 percentage points to 19.11% in March 2015, and deposit rates increased by 4.26 percentage points to 15.21%.

According to the central bank data, the increases are recorded for dram loans and deposits for up to one year.

A number of factors have contributed to these increases in Armenia. First of all, it was the raising of the refinancing rate from 8.5% in the beginning of the year to 10.5% that influenced the increase in both loan and deposit rates.

Another decision of the central bank about the raising of the reserve requirement in foreign currency also had a serious impact, having affected the dram liquidity and made the Armenian banks increase their dram deposit rates.

According to the central bank’s information, the dollar loan rate was 9.31% in March 2015, a reduction of 0.48 percentage points from the beginning of the year. At the same time, dollar deposit rates rose by 0.24 percentage points to 5.55%.

Dram loan rates for loan extended for more than one year fell by 0.15 percentage points to 16.93%; similar deposit rates rose by 1.29 percentage points to 14.44%. At the same time, dollar long-term loan rates increased by 0.44 percentage points to 12.77%; rates for deposits placed for more than one year dropped by 0.15 percentage points to 7.05%. –0--