Saturday, November 13 2010 12:20
20% of Ardshininvestbank's consumer portfolio falls on autocredits
ArmInfo. About 20% of Ardshininvestbank's consumer portfolio falls on autocredits, Head of Retail Crediting Development Department of Ardshininvestbank David Arakelyan told ArmInfo correspondent. He pointed out the Armenian population's demand for acquisition of cars from the primary market and added that proceeding from the market conjuncture, Ardshininvestbank provides autocredits for the primary market with a prepayment of 20%, up to 5 years maturity, at 15% p.a.
Arakelyan said that Ardshininvestbank is an agent of RASKO insurance company, and this facilitates the clients' choice and reception of policies.
"Ardshininvestbank is cooperating with several autodealers. Moreover, it is negotiating on conclusion of new agreements with other autodealers. The cars acquired by the bank's autocredits undergo insurance obligatorily. In case of autocrediting of the cars acquired from the primary market, no evaluation is done",- he stressed.
According to the ranking of Commercial Bank of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as of 1 October 2010 Ardshininvestbank's provision of crediting amounted to 61.9 bln AMD (7th position) or 53,8% of the bank's assets. By the volume of autocredits, the banks holds the second position with almost 4 bln AMD (6,5% of credit portfolio). The net profit of the bank made up 1.5 bln AMD. By the branch network, the bank holds the second position in the banking system of Armenia. It has branches (13 in Yerevan, 36 in the regions, and 6 in Karabakh).
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