Ardshinbank reduces interest rates on loans secured by gold

ArmInfo. Ardshinbank reduces  interest rates on all loans secured by gold. As the press service of  the Bank reports, this condition has been in effect since October 11  2017.

The source explains that interest rates on AMD loans start from 10%  per annum, for USD credits (agricultural value) - from 6%, for EUR  loans - from 4%. The maturity date is set to 10 years, and the amount  of the loan is up to 500% of the value of the pledged gold (depending  on the borrower's loan history).

"In this case, clients are given the opportunity to choose the  preferred repayment schedule for principal and interest payments,"  the Bank's official statement reads.

For more information, please visit the bank's website at:  https://www.ardshinbank.am/index.php

According to the Financial Rating of the Armenian Banks, as of  October 1, 2017, prepared by the NA ArmInfo, Ardshinbank is in the  TOP-3 by the main balance sheet indicators: total capital - 64.2 bln  AMD (annual growth of 21%), assets - 501.6 bln AMD (annual growth of  13% , 5%), loan investments and other loans - 340.4 billion AMD.  Corporate loans dominate the loan portfolio of the Bank, but the  retail portfolio is almost as fast as the growth rate. 9 months of  2017 Ardshinbank completed with a net profit of 4.5 billion AMD,  having increased this indicator by 29.8% year-on-year. The branch  network of Ardshinbank is one of the largest in the banking system of  Armenia - 64 branches, out of which 19 in Yerevan, 42 in regions and  3 in NKR. The majority shareholders of Ardshinbank are Arins Group  (renamed Center for Business Investments) with a 70,1145% interest in  the capital and REGION Industrial and Financial Corporation -  28.3889%.