Thursday, December 16 2010 15:43

"Areximbank-Gasprombank Group" provides 65% growth of SME portfolio


ArmInfo. By 1 December 2010 the volume of the SME portfolio of "Areximbank-Gasprombank group" amounted to 3.8 bln drams having grown by 65% if compared with the same period of 2009, deputy director general of the bank, Vigen Barsegyan, told Arminfo correspondent. He also added that the portfolio growth was connected with the post-crisis activation of economy. The credits were given at the expense of the German-Armenian Fund as well as the own resources of the bank, he said. The number of the SME loan debtors has grown by 83%.

He also said that the leadership of the bank has recently met with representatives of the World Bank to initiate cooperation and possibility of financial funds attraction for the SME crediting. Barsegyan said that at president the bank gives drams credits with 13-15% rate of interest and the US dollar credits with 11-13% rate of interest for 7 years depending on the purpose of the credit. It gives credits for all branches of economy, including trade, services and industry.
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