Wednesday, May 7 2014 18:11

Cheapening of deposits and loans in terms of the national dram has led to reduction of margin to 5.8%


ArmInfo. Deposits rates in the financial market of Armenia averaged 8.5% in Mar 2014, experiencing 0.2 percentage points decline versus Dec 2013 amid 0.5pp year over year decline. Meanwhile, the interests on loans fell 0.1pp versus Dec

2013 and Mar 2013 to 14.3% in average. Cheapening of deposits and loans in terms of the national dram has led to a 0.2pp reduction of the margin since the beginning of the year to 5.8%, amid 0.8pp year over year growth.

By data of the Central Bank of Armenia, loans and deposits cheapened as the interests on the financial market instruments in terms of AMD experienced decline. Thus, the interests on AMD deposits fell 0.7pp versus the beginning of 2014 to 10.5%. AMD loans cheapened for the given periods of time 0.5pp and 0,3pp respectively to 15.7%.

Meanwhile, interests on deposits in USD grew 0.3pp since the beginning of the year amid similar year over year growth to 6.5% in March 2014.

Interests on USD loans experienced a three-month growth of 0.1pp amid 0.2pp decline versus the same period of 2013.

According to the source, interests on short-term and long-term deposits reached 7.9% for Mar, experiencing a 0,1pp decline since the beginning of the year. As compared to Mar 2013, both the indicators fell 0.3pp and 2 pp, respectively. Interests on long-term loans, including mortgage loans, totaled 14% in March, experiencing 0,3pp decline since the beginning of the year. This indicator was left unchanged comparing to Mar 2013. Interests in mortgage loans fell 0.7pp and 0.4pp for the periods under reviews to 12% in average in March.

Generally, interests on corporate deposits fell 0,3pp for 3 months of 2014, amid 1 pp decline versus Mar 2013 to 7.6% in Mar 2014.

Interests on personal deposits totaled 9.4%, experiencing a 1 pp decline since the beginning of the year and a similar growth versus Mar 2013. Meanwhile, interests o retail loans fell 0,2pp and 0,3 pp respectively, to 15.8% in average in Mar 2014.
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