Thursday, May 10 2012 20:29
Astrid Clifford: No sudden changes in loan rates expected in Armenia
ArmInfo. No sudden changes are expected in the policy of loan rates in Armenia, Astrid Clifford, HSBC Bank Armenia Chief Executive Officer, told journalists.
Clifford said that the banks are quire careful, they monitor the real situation in the market, and one should not expect any serious changes. She added that the banks of a lot of countries are conducting a restrained interest rate policy. The Armenian banks are rather conservative in this matter, and the further situation of the interest rates depends on their strategic plans and opportunities, she said.
As regards the possible risks in the banking market in case of a second global crisis wave, Clifford calls on the banks to keep a bright lookout. From the viewpoint of possible risks, the world markets have numerous uncertainties connected with the elections in France and the United States, as well as with the political situation in Europe, and the banks should be extremely careful, she said.
According to the statistical data of the Central Bank of Armenia, in March 2012 the interest rates for AMD loans in the Armenian banks were down 0.37 points, and dropped by 0.55 points as compared to March 2011 (0.05% growth over Q1 2012) to 17.74% by 1 April 2012.
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