Loan interest rates in Armenia likely to start going down - forecast

10.02.2016 17:23
Loan interest rates in Armenia likely to start going down - forecast

YEREVAN, February 10. /ARKA/. Loan interest rates in Armenia are likely to start going down, Ruben Melikyan, the financial director of Anelik Bank and a member of its board, said Tuesday in an interview with ARKA News Agency.

In his words, interests on both loans and deposits in drams have already shed – 1.66 percentage points to 15.36% and 1.74 percentage points to 13.33% respectively.

In December, refinancing rate was downed from 9.75% to 8.75%.

“We are thinking now that interest rates on the attracted financial resources will probably start falling and driving also loan interests down,” Melikyan said in his interview.

He said that as a whole, interest rates on loans are in tune with interests on deposits and obligatory reservation rate.

Melikyan remembered that the obligatory reservation normative was increased in December 2014 from 12% to 24%, but later was lowered to 20%.

“That was a dramatic growth, but it should be considered along with the macroeconomic indicators assessed by the central bank,” he said. ($1 – AMD 494.63). ---0—


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