Announcement

Collapse
No announcement yet.

Armenian Armeconombank To Extend Trade Credits At Lowered Rates

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Armenian Armeconombank To Extend Trade Credits At Lowered Rates

    ARMENIAN ARMECONOMBANK TO EXTEND TRADE CREDITS AT LOWERED RATES

    ARKA
    Sep 30, 2009

    YEREVAN, September 30. /ARKA/. Armeconombank is starting a reduced
    interest rate credit program for stabilization of the economy as from
    October 1, chairman of the bank's directorial board David Sukiasyan
    reported.

    "We want to make a contribution to economic intensification and offer
    lower interest rates to our clients," Sukiasyan told journalists
    Tuesday.

    Under the trade lending program loans are to be extended to trade
    and import companies at from 10 to 12% p.a., depending on whether
    the applicant is an Armeconombank client or not.

    The program will be implemented with assistance of international
    organizations and the EBRD in particular.

    All credit lines opened in the bank under the trade promotion program
    will be used for this purpose, Sukiasyan said.

    "Armeconombank" Open Joint Stock Company was registered on August
    26 1991. Over 75% of the bank's shares belong to the principal
    shareholders - EBRD (25% + 1 share) and the founders of "SIL" concern
    Sukiasyan family (53.4%). The bank has 34 branches in Armenia and
    Nagorno-Karabakh Republic.

    According to the bank's press service, total capital of "Armeconombank"
    had exceeded 8.5 billion drams by September 28; total assets were
    about 52 billion drams, credit investments - over 29 billion dr ams
    and individual deposits - over 5.8 billion drams. ($1=385.71Drams).
Working...
X