ArmInfo. Converse Bank conducts a promotion, improving the conditions of disbursement of AMD loans secured with pledge of gold and provision of foreign currency credit cards with non-revolving limit, the press office of the Bank has told ArmInfo.
"We are improving the conditions of lending with pledge of gold, making an unprecedented offer. Namely, within the framework of the promotion, Converse Bank prolongs the loan maturity up to 36 months. Loans are provided at an annual interest rate starting from 8 percent, for an amount up to 130 percent of the evaluated price of gold," the Bank says, adding that the changes apply to the Bank's existing customers as well. The promotion will be in force from February 8, 2017 to March 31, 2017 inclusive.
According to ArmInfo's Financial Rating of Armenian Banks, in 2016 Converse Bank increased its credit portfolio by 27.6% to 122.2 bln AMD. The amount of retail loans grew by 4.1% to 52.4 bln AMD. In the Bank's retail loan book the share of Lombard loans is about 13% or 6.6 bln AMD (20.1% drop for 2016, 25.7% growth for 2015).