Overnight credits volume grosses AMD 16.24 billion in first month after credit market launch

PanARMENIAN.Net - 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.