Monday, September 13 2010 17:15

Over Q2 2010 interest rates of AMD deposits in Armenian banking system rose to 10.4% and those of USD deposits fell to 6.8%


ArmInfo. Over Q2 2010 the interest rates of AMD deposits in the Armenian banking system rose by 0.4% to 10.4% and those of USD deposits fell by 0.9% to 6.8%

As a result, the difference between the interest rates of AMD and USD deposits made up 3.6% against 2.3% in March, says the report of the Central Bank of Armenia (CBA) for the second quarter.

According to the report, the rates of AMD credits also demonstrated growth while those of USD credits fell. Thus, in June the interest rate of AMD credits made up 19.4%, having increased by 0.2% as compared with March, and that of USD credits fell by 1.8% to 12.9% in June. As a result, the difference between the interest rates of AMD and USD credits made up 6.5% in June against 4.5% in March.

In June 2010 the difference between the interest rates of AMD credits and deposits made up 9% (having decreased by 0.2% as compared with March), and the difference between the interest rates of USD credits and deposits made up 6.1% (having decreased by 0.9% in March).

According to the Ranking of Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as of 1 July 2010 the total credit portfolio of all the 21 commercial banks of Armenia amounted to 838.9 bln AMD ($2.3 bln), having increased by 2,3% over Q2 2010. At the same time, the portfolio of deposits (time and call deposits) amounted to approximately 696 bln AMD, of them 347.2 bln AMD ($944.8 mln) fell on individuals.
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