Thursday, October 24 2013 12:35

Anelik Banks reduces interest on "Holiday" loan product


ArmInfo. Anelik Bank has reduced the annual interests on its loan product "Holiday" by 2.5%-3% (for AMD loans) and 1.5%-2% (for USD loans) following the recent reduction of interests on the loan products "Wedding" and "Simple-Fast." The bank told ArmInfo the annual interest on the loans in terms of AMD was reduced to 18.8% and on the loans in terms of USD - to 14.8%.

Unlike the last two loans, "Holiday" loan is provided subject to a reference on incomes. The loan maturity is up to 10 years. The maximum amount of the loan is 20 million drams or an equivalent amount in US dollars. The loan is provided via Visa Gold or MasterCArd Gold credit cards. The bank charges no money for the first two years of the card service. In addition, the cardholders will enjoy discounts at 500 stores and services points.

According to the Financial Rating of Armenian Banks prepared by ArmInfo, Anelik Bank was among top five banks in Armenia as of July 1 2013 in terms of the volume of real-estate-secured consumer loans with an annual growth by 13% to 3.5 bln drams. The funds of the bank's credit cards grew nearly by 44% for the period under review. Personal loans of the bank have reached 11.7 bln drams (a 12% growth year over year) or over 32% of the total loan portfolio.

Lebanese CreditBank increased its share in Anelik Bank from 89.95% to 100% in Sept 2013. CreditBank has been operating in the financial markets in the Middle East for over 30 years and holds nearly $2.5 bln assets, serves 20 branches in Lebanon and Anelik.RU branch in Moscow.
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