External debt of Armenian commercial banks, credit institutions $555mln in 2008
25.03.2009,
00:17
The external debt of the Armenian commercial banks and credit institutions totaled $555mln last year.
YEREVAN, March 24. /ARKA/. The external debt of the Armenian commercial banks and credit institutions totaled $555mln last year.
According to the Review of the Central Bank of Armenia (CBA) for the 4th quarter of 2008, the Armenian commercial banks and credit institutions attracted a total of $573mln last year.
Last year, the Armenian commercial banks and credit institutions spent a total of $380mln on serving their external debts.
As of the end of 2008, among the principal creditors of the Armenian commercial banks and credit institutions were Russia (16.4% in the total debt against 14.4% in 2007), France (9.4% against 3%), Latvia (9.1% against 10.8%), Germany (7.5% against 6.2%).
Also, international organizations issued about 25.2% of the credits last year.
The banks invested the attracted credits in the following sectors: industry ($184mln), agriculture ($94), the financial sector ($85).
The weighted average interest rate on credits attracted by the Armenian financial organizations was reduced down to 6.3% last year against.
Also, the credits with floating interest rates (LIBOR, EURIBOR, CBA government bonds) constituted 57.9% of all the attracted credits, the average repayment period being 3 years and eleven months. During the period under review, short-term credits constituted 12.4% against 13.7% late in 2007. –0—
According to the Review of the Central Bank of Armenia (CBA) for the 4th quarter of 2008, the Armenian commercial banks and credit institutions attracted a total of $573mln last year.
Last year, the Armenian commercial banks and credit institutions spent a total of $380mln on serving their external debts.
As of the end of 2008, among the principal creditors of the Armenian commercial banks and credit institutions were Russia (16.4% in the total debt against 14.4% in 2007), France (9.4% against 3%), Latvia (9.1% against 10.8%), Germany (7.5% against 6.2%).
Also, international organizations issued about 25.2% of the credits last year.
The banks invested the attracted credits in the following sectors: industry ($184mln), agriculture ($94), the financial sector ($85).
The weighted average interest rate on credits attracted by the Armenian financial organizations was reduced down to 6.3% last year against.
Also, the credits with floating interest rates (LIBOR, EURIBOR, CBA government bonds) constituted 57.9% of all the attracted credits, the average repayment period being 3 years and eleven months. During the period under review, short-term credits constituted 12.4% against 13.7% late in 2007. –0—
