Thursday, September 23 2010 16:40
SEF International increases loan portfolio by 124 million drams for first half of 2010
ArmInfo. SEF International universal credit organization increased loan portfolio by 124 million drams to 2.2 billion drams for the first half of 2010, SEF International UCO Executive Director Garegin Gevorgyan told ArmInfo.
"Simultaneously we are working to increase efficiency of our company, improve lending terms and expand the product range," he said.
G. Gevorgyan said that insuring a return in short-term outlook is not a priority for the company. "We want to ensure sustainable profits in long-term outlook and we are focusing on social responsibility," he said. Ranking of Armenian Credit Companies prepared by the Agency of Rating Marketing Information (ArmInfo) says that as of July 1 2010 assets of SEF International UCO totaled 2.8 billion drams (8th position), total capital - 771.2 million drams (8th position), liabilities - 2.035 billion drams (7th position). The company occupied the 7th position among universal credit organizations in Armenia for the first half of 2010 in terms of lending.
SEF International was founded in Armenia in 1998 by the World Vision Christian relief, development and advocacy organization. The Central Bank licensed the company on April 11 2003. At present the company serves 4 branches: 2 in Yerevan, and by one in the town of Kapan and Sisian.
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