External debt of Armenian commercial banks and credit organizations in 2013 grew to $1.209.6 billion, central bank

External debt of Armenian commercial banks and credit organizations in 2013 grew to $1.209.6 billion, central bank

YEREVAN, April 9. / ARKA /. The external debt of Armenian commercial banks and credit organizations in the fourth quarter of 2013 was 3.4 percent higher from the same time span in 2012 growing to $1.209.6 billion.  

Compared to the third quarter of 2013 the debt was higher by 10.3%, the Central Bank said in its monthly bulletin.

It said also that commercial banks and credit organizations attracted $376 million in foreign borrowings in the last three months of 2013 and spent also $273.5 million on repayment of their previously received loans.

In the fourth quarter, 42.5% of loans were long-term. Of that amount 25.7% came from Luxembourg, 21.1% from various international organizations, 12.5% from Austria, 9.4% - from UK, 9, 2% - from the Netherlands.

By the end of 2013 the main lenders of Armenian commercial banks and credit organizations were Russia -18 % Luxemburg -12, 8 % and the Netherlands - 7.8%. Approximately 36.4 % of the loans were provided by international organizations. The average interest rate of the provided loans was 5.8%.

Some 47.3% of foreign loans were loans with floating interest rates (LIBOR, EURIBOR , etc.) with average repayment period of 4.2 years.

During the reporting period, the share of short-term loans increased to 10.3 % of the external borrowings. ($ 1 - 415.23 drams). -0-

15:32 09.04.2014

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