Thursday, March 29 2012 16:11

Anelik Bank first bank in Armenian banking system to introduce scoring system for business loans rating


ArmInfo. Anelik Bank is the first bank in the Armenian banking system to introduce own specialized scoring system for business loans rating. The bank's press-service told ArmInfo the given system will allow the bank to more effectively and quickly analyze the credit scoring of potential borrowers. A credit score is a numerical expression based on a statistical analysis of a person's credit files, to represent the creditworthiness of that person.

The employees of the bank through long surveys and discussions developed the scoring system in cooperation with various international structures and on the basis of the world experience, the requirements of the Basel Committee, and the bank's policy of credit risk management.

"As the first bank in Armenia to introduce the given system of business loans rating, we are sure that it will not only speed up the lending procedures but also allow creating relevant conditions for activity of every borrower. Borrowers will be assigned relevant ratings by means of the scoring system. Another advantage of the system is reduction of the subjective assessment by the loan officers. Although the final decision to provide a loan depends on a loan officer, the results of the credit scoring system will have a tangible impact of his final decision," says Director of the Educational Center of Anelik Bank Mkrtich Tadevosyan.
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