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March 30
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In the recent years the interest rate has been steadily dropping in Armenia, Head of the Financial System Stability and Development Department of the Central Bank of Armenia (CBA), Andranik Grogoryan, said at a press-conference on Wednesday.

In 2015, growth in interest of deposit, especially in Armenian drams, was observed but in 2016 the reduction continued both in terms of deposits and loans.  

In 2016, rates of all financial instruments reduced by at least 1 percentage point (100 basis points) in respect of all the financial instruments, he said.

The risk reduction in the system contributed to this. The capital adequacy ratio (CAR), which compares the bank capital and its assets grew by 3.8 percentage points on average in the Armenian bank system in 2016, reaching 20 percent, the permissible minimum being 12 percent.

The percentage of nonprime loans has also reduced. In January 2016, it amounted to 7.95 percent, dropping to 6.2 percent in March 2017. 

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