Wednesday, June 13 2012 15:48
Decline of interests on loans and deposits for Q1 2012 increases interest margin from 6.9% to 7.3%
ArmInfo. Interests on loans fell by 0.2points for Q1 to 15.5%, with interests on deposits falling 0.6 points to 8.2%. As a result, the interest margin increased from 6.9% to 7.3%, says the monthly reference of the Armenian Central Bank. Thus, in March 2012 versus March 2011 the interests on loans grew by 0.5 points, amid 0,1point decline of interests on deposits, which increased the margin by 0,5 points. In March 2012 versus February interests on loans fell by 0,1 points while interests of deposits was left unchanged.
No changes in March, growth since April.
Interests on loans and deposits fell for Q1 2012 following easing of loans and deposits in terms of both AMD and USD. In particular, the average interest on AMD loans made up 16.8% by late March 2012 with a 0.8-point growth versus the same period of 2011 and amid 0.1-0.2 points declines for Q1 2012 and versus Feb 2012. The interests on USD loans made up 14.2% growing 0,1 points versus Q1 2011, 0.2 points versus February 2012 and falling 0,2 points for Q1 2012. Interests on AMD deposits made up 10.1% with a 0.2-point growth versus Q1 2012 and 0.5-0.1 points decline for Q1 2012 and versus Feb 2012. As for the interests on USD deposits, they fell 0.3points to 6.3% versus Q1 2012 (down 0,7 points for Q1 2012 and 0.1 points versus Feb 2012).
According to data of the Armenian Central Bank provided to ArmInfo by the National Statistical Service of Armenia, interests on dram deposits grew 0.4 points for April 2012 to 9%, but fell 0.4 points versus the same period of 2011 and 1.3 points for Jan-Apr 2012. Interests of AMD loans grew 0.3 points for April 2012, 1 point versus Arpil 2011. and 0.3 point for Jan-Apr 2012 to 18%.
Short-term deposits are easing, while long-term deposits are rising in price.
Interests on deposits fell for Q1 2012 following easing of short-term deposits (up to 1-year): personal deposits - 1.1 points to 7.3% (down 0.3points versus the same period of 2011, and 0.6 points for March), amid growing interests on long-term personal deposits (over 1-year) for Q1 2012 by 0,1 points to 10.1% (up 1 points versus the same period of 2011, and 0,2 points for March). Interests on short-term corporate deposits fell 1.3points for Q1 2012 to 6.7% (amid 0,5 points decline versus Q1 2011 and 0.8 points for March). Interests on long-term corporate deposits grew 0,1 points to 8.8% (down 0,4 points and up 0.8 points, respectively).
In general, interests on corporate deposits fell 0.6 points for Q1 to 7.8% (down 0.4 points versus Q1 2012 and no changes for March). In particular, interests of AMD corporate deposits fell 0,1 points to 9.8% for Q1 2012 (up 0,1 points versus Q1 2011 and 0.7 points for March), while interests on USD corporate deposits fell 1.1 points to 5.7% for Q1 2012 (down 1 point and 0,6 points, respectively). A similar decline of interests on personal deposits was registered for the quarter - 0.5 points to 8.7% (up 0.3 points versus Q1 2011 and down 0.2 points for March). Interests on AMD personal deposits fell tangibly - 0.9 points to 10.4% for Q1 2012 (up 0.2 points versus Q1 2011 and down 0.8 points for March). Interests on USD personal deposits fell 0,2 points for Q1 2012 to 7% (up 0.5 points over the year and versus March).
In general, interests on short-term deposits fell 1.2 points to 7% for Q1 2012 (0.4 points decline over year and 0.7 points for March). Interests on long-term deposits were left unchanged for Q1 2012 - 9.4% (up 0.3 points versus Q1 2011 and 0,5 points for March). Interests of short-term deposits fell for Q1 2011 following reduction of interests on both USD and AMD deposits by 0,4 points to 5.3% (down 0,4 point versus Q1 2011 and 0,5 point for March) and by 1.7 points to 8.6% (0.5 points versus Q1 2011 and 0.9 points for March), respectively. Long-term deposits grew in price following the growth of interests of AMD long-term deposits 0,7 points to 11.5% for the quarter under review (up 0.6 points for March and versus Q1 2011) amid decline of interests on USD long-term deposits for Q1 2012 by 0,5 points to 7.4% (down 0,1 point versus Q1 2011 and up 0.4 points for March).
Interests on mortgage loans fall unlike interests on consumer loans.
Interests on short-term loans fell 0,2 points for Q1 to 16.7% (up 0.7 points versus Q1 2011 and 0,2 points for March), while interests on long-term loans suffered decline for Q1 2012, versus Q1 2011 and for March by 0.1 points to 14.3% for late March. Decline of interests on short-term loans for Q1 2012 followed reduction of interests on AMD loans by 0,1 points to 18.2% (amid 0.8 points growth over the year and 0,2 points decline for March) and reduction of interests of USD loans by 0,3 points to 15.2% (up 0,6 points versus Q1 2011 and 0,5 points for March). Insignificant decline of interests on long-term loans is the result of 0,1 point reduction of interests on AMD loans for Q1 2012 to 15.4% (amid 0,4 points growth over the year and 0.1 point decline for March), and unchanged interest on USD loans - 13.2% (down 0,5 points versus Q1 2011 and 0,1 point for March).
Interest rates on corporate loans for Q1 2012 fell 0,4 points to 12.3% (amid 0,1 points decline for March and no changes versus Q1 2011). In particular, interests of AMD corporate loans fell 0,8 points to 11.4% (up 0,1 points for March and down 0,9 points versus Q1 2011), while interests on USD corporate loans fell 0.9 points to 10.8% (down 0.4 points versus Q1 2011 and 0,2 points for March). Interests of corporate loans fell for Q1 2012 by 0.8 points to 11.4% (down 0.4 points versus Q1 2011 and up 0,1 point for March) amid unchanged interests on long-term loans - 13.2% (down 0.3 points for March and up 0.4 points versus Q1 2011).
Interests on personal loans were left unchanged for Q1 2011 - 17.2%, amid 0.3 points growth versus Q1 2011 and 0,1 point for March. Interests on AMD personal loans fell 0,2 points for Q1 2012 and for March to 18.3% (up 0,6 points versus Q1 2011). Interests on USD personal loans fell 0,6 points in average versus Q1 2011 and 0,4 points for Q1 2012 to 19.6% (amid 0,5 points growth for March). Interests on personal long-term loans grew 0.2 points to 17.3% (down 0,5 points versus Q1 2011 and 0,3 points for March).
Interests on consumer loans for Q1 2012 grew 0,6 points to 19.2% (unchanged for March), while interests on mortgage loans fell 0,4 points for Q1 2012 to 12.5% (down 0,1 point versus Q1 2011 and up 0.2 points March).
Government bonds fall in price.
In the primary market the average yield of short-term government bonds fell 1.9 points for Q1 2012 to 8.8% (amid 1.9 points versus Q1 2012 and 0,1 point for March), while long-term government bonds fell 0,1 point to 16.1% (amid 0,1 point growth versus Q1 2011).
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