OVERNIGHT CREDITS VOLUME GROSSES AMD 16.24 BILLION IN FIRST MONTH AFTER CREDIT MARKET LAUNCH
PanARMENIAN.Net
May 3, 2010 – 19:35 AMT 14:35 GMT
The volume of interbank overnight credits provided via the NASDAQ OMX
Armenia credit market since its launch on April 2, 2010 stood at AMD
16.24 billion. A total of 96 deals were concluded during 21 trading
sessions held in April, with the average daily trading over AMD 770
mln reaching its maximum-AMD 4 billion-on April 29. The weighted
average credit interest rate was 10.43 percent per annum, ranging
from 3 to 12 percent per annum throughout the period.
Credits provided in the NASDAQ OMX Armenia credit market are
denominated in Armenian Drams, with lenders and borrowers being the
Armenian banks. As of today, 21 banks have been awarded the status
of participants in this market.
The successful trading month following the launch of the credit market
gives reasonable grounds to believe that the launch of the service
was timely and is up to the market participants’ needs. NASDAQ OMX
Armenia hopes that the volumes of trading in this market will continue
to grow as the Armenian banks increasingly employ this instrument in
their assets and liabilities management systems, NASDAQ OMX Armenia
press service reported.