Tuesday, December 11 2012 16:57

Areximbank-Gazprombank Group's SME lending portfolio to make up 10bln AMD by the end of 2013


ArmInfo. Areximbank-Gazprombank Group's SME lending portfolio will make up 10bln AMD by the end of 2013 due mostly to international projects.

The press service of Areximbank-Gazprombank Group reports that among the bank's key partners is the World Bank, with 159 loans worth a total of 1.6bln AMD issued in 2012 under the WB's refinancing program.

"Generally during a crisis banks toughen their terms for SMEs in order to reduce their risks. That's what we did a couple of years ago, but it was a forced measure. Today, the situation is different. SMEs are actively developing and are becoming a priority for us. Many of our customers are beginning to diversify and enlarge their businesses. We welcome such customers and are ready to encourage them with favorable terms," SME Lending Manager of Areximbank-Gazprombank Group Martin Torosyan, adding that in the last two years our SME lending portfolio has grown from 3.8bln AMD to 7.4bln AMD.

He also said that in 2012 the bank concluded a $10mln agreement with the Eurasian Development Bank. "In just 6 months we fulfilled all of our obligations by issuing as many as 17 loans," Torosyan said. He said that in 2013 the EDB is going to provide Areximbank-Gazprombank Group with a new credit line for trade lending activities. "We are committed to enlarge our involvement in the EDB's projects," Torosyan said.

He said that in 2013 the bank is going to sign a 1bln AMD agreement with IFAD to refinance agriculture.
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