Ardshinbank cut rates on Lombard loans secured by gold

ArmInfo. Ardshinbank sharply  lowered the rate for Lombard loans secured by gold. Director of  Strategic Development of Ardshinbank Armen Gasparyan told ArmInfo,  explaining that according to AMD loans rates are set at 16% per  annum, on USD loans - from 9% and from EUR ones - from 7%.

According to the source, the reimbursement of these loans is set to  10 years, while customers can choose their own mode of payment of  interest. For more information, please visit the bank's website at  www.ardshinbank.am.

Stressing that the development strategy of Ardshinbank declares  constant improvement of the banking products and services provided to  the population, Gasparyan said: "We are keeping pace with the times  and do our best to satisfy the needs of each client. And individual  entrepreneurs engaged in agriculture. In the near future we will  enter the market with new offers that are even more advantageous for  our customers."

According to the Financial Rating of the Armenian Banks, prepared by  IC ArmInfo, the portfolio of Lombard loans of Ardshinbank as of  January 1, 2017 amounted to 30.5 billion AMD ($ 63 million). In the  total loan portfolio of the bank, the share of Lombard loans exceeds  9%. Ardshinbank is included in TOP-3 by main balance indicators:  total capital as of January 1, 2017 made 54bln AMD (3rd position),  assets - 504.7bln AMD (2nd position), credit investments - 337.7bln  AMD (2nd position). The bank was the leader in terms of net profit  (3rd position) - 4.6 bln AMD in 2016, with an annual growth of 2.3  times.  "Ardshinbank" CJSC was founded in 2003. At present,  Ardshinbank, taking into account Areximbank- Gazprombank group,  combined with it, has 72 branches (56 of its own and 16 Areximbank)  and a representative office in Paris. In terms of coverage of the  branch network, Ardshinbank has become the leader since 2017, not  only in terms of the total number of units, but also in the number of  regional branches. The majority shareholder of Ardshinbank is LLC  "Center for Business Investments" with 70,11% equity interest in the  capital and "Region Industrial and Financial Corporation" - 28.10%.