Thursday, December 9 2010 15:17
All-Armenian Bank to deliver first credits in 2011
АрмИнфо. The All-Armenian Bank will start acting in May 2011 and deliver the first credits, Vahram Nersisyants, appointed today to the post of executive director of All-Armenian Bank, told ArmInfo correspondent.
He said that building of the bank office in Yerevan will be finished till May and added that Armenian Central Bank delivered a license to the All-Armenian Bank, which will be registered soon. The government of Armenia gave $20 mln to the bank like the authorized capital. The shareholders' capital of the bank is $100 mln. The rest $80 mln will be attracted at the expense of donors and private business, Nersisyants said.
He also added that the All-Armenian Bank is not a commercial bank and will implement the investment activity with a stress to crediting of medium-sized business with rates of interest lower than the market ones. The crediting programmes in the IT sphere, medicine, education and tourism will be implemented, he said.
"When determining the crediting conditions we should balance between development and profitability and be guided by the fact how much the middle class and medium-sized business are able to use the credits and return them. We shall not take the real estate as a pledge but the business which we finance", - he said.
Moreover, the All-Armenian Bank is going to issue shares and bonds to attract funds from the Armenian Diaspora which will be used to crediting of development programmes. "Securities are foreseen for those representatives of the Diaspora which want to take part in development programmes of Armenia but cannot arrive here and organize business", - Nersisyants said.
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