Thursday, April 14 2011 19:55

Converse Bank starts aggressive retail crediting


ArmInfo. Converse Bank is starting an aggressive retail crediting policy, Executive Director of Converse Bank Tigran Davtyan said on Thursday after the official ceremony of signing of an agreement between the Asian Development Bank and 6 Armenian banks. He added that in 2011 the bank is going to increase the volume of retail credits by 20%.

Within the frames of retail crediting, Converse Bank is starting to actively finance retail trade and actively provide consumer crediting via the wide network of joint branches with the national postal operator of Armenia. In this connection, Davtyan recalled the project "Converse Postbank" of Converse Bank with the national postal operator of Armenia. The project aims to provide the basic range of retail and financial services of Converse Bank in the branches of HayPost.

When commenting on the effectiveness of the Asian Development Bank's program on trade finance in Armenia, Davtyan said that, unfortunately, Armenian importers pass by such non-risky products as letters of credit, preferring either to pay for the goods after the import or pay in advance. "Our task is to explain to our customers the advantages of such non-risky products as letters of credit, for instance", said Davtyan.
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UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
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