ArmInfo. Ardshinbank improved terms for property secured loads, reducing maximal level of interest rates. According to the press service of the company, Ardshinbank announces reduced interest rates and better lending terms for loans secured by property. Thus, the current annual interest rate on consumer loans in AMD is 14.25-19.95% without the need to submit a statement of income and 14.25-17.75% with income certificate. The interest rates on express renovation loans in USD are 12.75-17.95% without income certificate and 12.75-15.25% with income certificate, as well as 12-14.95%, 12-13.45% in Euro accordingly. Following the new terms, it is now possible to get up to AMD 40 million, USD 80,000 and EUR 70,000 loan amount.
"A big advantage of the loan is the fact that the borrower does not need to submit a statement of income to the bank, which is very convenient. Under the new conditions, we retained this opportunity, but gave the customers a chance to get the loan at a lower rate if they provided a certificate of income. We also developed favorable conditions for refinancing. If the client transfers his loan to Ardshinbank, the interest rate can be reduced by 0.5-1% of the initial loan rate, and the maximum loan amount is increased to 120%. Furthermore, in case of loss of work capacity or property damage, it is the borrower who receives the compensation, not the Bank," stated Armen Gasparyan, Strategic Development Director at Ardshinbank.
In addition, loans by pledge of real estate give an opportunity to earn 5% cashback bonus from the interests already paid on the schedule.
More information on property secured loans can be found at www.ardshinbank.am by calling (012) 22 22 22 or by using the "Call Back" service.
According to the Financial Rating of the Armenian Banks as of July 1, 2017, prepared by IA ArmInfo, Ardshinbank is in the TOP-3 by the main balance indicators: total capital - 62.8 billion drams (annual growth of 22.4%), assets - 507.5 billion drams (annual growth by 12.1%), credit investments - 361.6 billion drams. In the loan portfolio of the Bank, the share of retail loans reaches 27% or 97.4 billion drams (an annual growth of 13.5%). The first half of the year, 2017, Ardshinbank completed with a net profit of 3.1 bln drams, having increased this indicator by 39.3% 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 OOO Arins Group (this is renamed OOO Center for Business Investments) with a 70,1145% interest in the capital and REGION Industrial and Financial Corporation - 28.3889%. To note, at the end of 2016, Areximbank-Gazprombank Group merged with Ardshinbank.