Friday, October 1 2010 18:10
Anelik Bank and EBRD sign an agreement on SME crediting worth 6 mln USD
ArmInfo. Anelik Bank and the European Bank for Reconstruction and Development (EBRD) signed an agreement on crediting of small and medium enterprises (SME). Under the agreement EBRD will provide 6 mln USD to Anelik Bank for 5 years. The potential borrowers of the bank will be able to receive a loan for 5 years and 1-year grace period, and the maximal amount of a loan will be 500 thsd USD. The loans will be available in both Armenian drams and US dollars.
At the official ceremony of signing, First Deputy Chairman of Board of Anelik Bank Bagrat Chzmachyan said that in October 2010 the bank intends to sign one more agreement with EBRD, this time for implementation of projects in the sphere of raising energy effectiveness. The amount of the loan under the given agreement will be 3 mln USD.
Head of the EBRD Office in Yerevan Valery Razlog congratulated the leadership of Anelik Bank and pointed out that the bank holds an important position in Armenia, has an effective strategy of SME crediting and a stable clientele base. "All these advantages will promote our cooperation with the bank in the future",- said Razlog. He enumerated a number of goals pursued by EBRD within the frames of cooperation with Anelik Bank. "The first goal is to support the private sector. The second goal is to help the bank to expand the clientele base, diversify the financial resources, consolidate the positions in the Armenian banking market",- said Razlog.
To note, Anelik Bank was founded on 9 July 1990, registered on 1 October 1991, and in 1996 it received the general license of the Central Bank of Armenia. In mid 2009 the Credit Bank (Lebanon) acquired 51% of Anelik Bank's shares. According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 July 2010 the total capital of Anelik Bank amounted to 15.3 bln AMD (7th position), assets - 50.5 bln AMD (9th position), provision of crediting - 26.2 bln AMD (12th position). In the structure of assets the share of provision of crediting made up 52%. In the credit portfolio over 80% are loans provided to economy, over 9 bln AMD have been placed in the industrial sector, and by this indicator the banks holds the fifth position in the market.
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