Friday, November 29 2013 17:59

Anelik Bank to introduce new lending products for SMEs in agrarian sector on Dec 2


ArmInfo. On December 2, 2013, Anelik Bank will introduce new lending products for small and medium-sized enterprises in the agrarian sector. The press service of the Bank has told ArmInfo that Anelik Bank offers three types of lending: property-secured loans, loans against the guarantee, and gold-secured loans.

The source says that the maximum amount of the loan is 20 mln AMD or $100 thsd, the redemption period is up to 7 years. The terms of gold-secured loans are more attractive: there will be no commission fees, and the interest rate will be reasonable (13% p.a.). The property-secured loans will be provided at the interest rate of min 21% p.a. for AMD loans and min 15% p.a. for USD loans. The interest rates of the loans against the guarantee will be min 22% for AMD loans and min 16% for USD loans.

"It is no secret that agriculture is one of the key and priority sectors of economy, and the Bank contributes to development of the agrarian sector in every possible way. We hope that the new lending products of the Bank will contribute to development of the agrarian sector entities", says Karen Janinyan, First Deputy Chairman of Board of Anelik Bank CJSC.

The Financial Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo) says that as of 30 Sept 2013 Anelik Bank's assets totaled 60.7 bln AMD, with 51.6% or 34.1 bln AMD of this amount being the share of lending. Lending to economy amounted to 22.6 bln AMD. The share of agricultural loans in total lending of the Bank made up 2.6% or 873.8 mln AMD.
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