YEREVAN. – The loan interest rates in Armenia have dropped in 2014, Central Bank of Armenia (CBA) Chairman Arthur Javadyan told reporters on Tuesday.
He noted that this drop is linked to the slowdown in the loan portfolio growth in the banking system.
“If the average increase was 35 percent in previous years, the [growth] rates are quite low this year,” Javadyan stated.
The CBA top man added that there are two reasons for the aforesaid. First, this is the conservative policy of the banks, and second, it is the present-day crisis situation in the eurozone and Russia.
“The banks have starting to provide loans more carefully, and the competition for [drawing] customers has increased,” Arthur Javadyan explained.
