Monday, April 11 2011 17:49

Till the end of 2011 Areximbank-Gasprombank Group to direct $10 mln to SME crediting


ArmInfo. Till the end of 2011 Areximbank-Gasprombank Group is going to direct another $10 mln to SME crediting. As press-service of the bank reported, the bank earned $2 mln in the sphere of SME in the 1Q of the current year.

"Over the current year the bank will pay great attention just to crediting of the small mad medium-sized business. That is natural: crisis steps back and economy is becoming more active. Stemming from it, we think development of small and medium-sized business is a prospective direction for us. In 2010 the bank entered the three of the leaders to credit SME according to the refinancing programme of Armenian Central Bank. Increasing of the SME crediting volumes was also fixed in the programme of strategical development of the bank till 2013, according to which the bank is going to direct $30 mln to SME crediting", - Deputy Director General of Areximbank-Gasprombank Group, Vigen Barsegyan, said.

He also added that crediting will be implemented at the expense of the bank's resources as well as the funds attracted from international financial organizations. "We have already made an arrangement with the WB about beginning of the procedure of involvement of CJSC "Areximbank-Gasprombank Group" in SME financing on easy terms. At present we can grant credits with 12-14% rate of interest in Armenian drams and US dollars for the term 7 years depending on the purpose of credit", Barsegyan said and added that crediting has been implemented in all the branches of economy, in particular, trade, services, industry. In 2011 the bank is going to ensure 50% growth of the credit portfolio up to 73.5 bln drams (about $200 mln).
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