Tuesday, August 28 2012 19:47
Deposit rates in Armenia up from 7.5% to 8.9%; loan rates down from 14.8% to 14.6% over year
ArmInfo. In July 2012 versus July 2011 the interest rates of deposits in Armenia were up from 7.5% to 8.9%. As compared with June 2012, the deposit rates were down 0.3 points (0.1 points growth over Jan-July). In July 2012 the loan rates grew from 14.4% to 14.6% (0.2 points y-o-y decline, 0.5 points decline over Jan-July).
The Central Bank of Armenia reports that growth of loan rates and decline of deposit rates in July 2012 led to the margin growth from 5.2% to 5.6%.
The source says that the decline of deposit rates in July 2012 was due to the reduction of rates of USD deposits by 1.1 points to 7.1%, while the rates of AMD deposits grew by 0.7 points to 10.9%. As compared with July 2011, the rates of AMD deposits rose by 1.3 points, and in Jan-July - by 0.3 points. In the meantime, the rates of USD deposits rose by 1.7 points, and by 0.1 points over Jan-July.
The growth of loan rates in July was due to the increase in the AMD loan rates by 0.4 points, while the USD loan rates remained unchanged. Over Jan-July 2012 the AMD loan rates dropped by 0.2 points. The USD loan rates dropped by 0.7 points over Jan-July 2012.
The interest rates of short-term deposits grew from 6.9% to 8% as compared with July 2011, did not change as compared with June 2012 and dropped by 0.2% as compared with Dec 2011.
The interest rates of long-term deposits grew from 8.1% to 10% as compared with July 2011, grew by 0.6% as compared with Dec 2011 and dropped by 0.5% as compared with June 2012.
The interest rates of short-term loans dropped by 1% as compared with June 2012, by 0.2% as compared with Dec 2011 and by 0.9% as compared with July 2011 to 15.1%.
The interest rates of long-term loans grew by 0.3% as compared with June 2012 and dropped by 0.4% as compared with Dec 2011 to 14.2%. As compared with July 2011 they did not change.
As compared with June 2012 the weighted average yield of short-term government bonds on the primary market grew from 9% to 9.1%, as compared with Dec 2011 by 10.7% and as compared with July 2011 by 8.7%. The yield of medium-term bonds grew from 13.6% to 14.5% as compared with July 2011.
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