YEREVAN, December 23. /ARKA/. Armenia's insurance sector accounted for a 59% loss rate in November 2014 against 60% in October 2014 and 76% in November 2013, the Bureau of Car Insurers reports at its website.

The permitted loss rates for car insurers in Armenia range from 75 to 78 percent under 22 to 25% insurance payout rate, on which payment calculation system is based.

There were 450,479 insured vehicles in Armenia on November 30, 2014. This number is larger than that of the previous month by 1,615.

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Interest rate spread of Armenia commercial banks was 4.62% in December 2013, a reduction of 1.31 percentage points against December 2012, ArmStat reported. A reduction of 0.18 pp was recorded compared to November

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Ashot Osipyan, the chairman of the Union of Armenian Banks, said today the agriculture is one of the most risky sectors with specific risky factors which are impossible to evaluate, for example, climate-caused risks and this is a reason raising the cost of agricultural loans.

Categories: Banks @en, General news, News, News of the hour | Comments Off on Agriculture still risky sector for banks: chairman

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Armenia’s financial sector will keep lending money to the economy, the Central Bank of Armenia says in its monetary program for 2011.

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