Anelik Bank launches action - card loans secured by gold

ArmInfo. Anelik Bank launches an action allowing the customers to have card loans secured by gold until December 1 2017

As the press service of the Bank told ArmInfo, the maximum loan amount is set at 30 million AMD, and the maximum maturity period is 6 months. The annual interest rate for a USD loan, depending on the maturity, is set at 8% and 9.5%, and for AMD 11% and 12.5%.

"Anelik Bank regularly updates the range of its services or the terms and conditions of the services in accordance with the requirements of its customers. It is not a new product of our bank, but a new profitable action, thanks to which the type of this loan will be available to a wider range of customers," said Anelik Bank's Retail Banking Director Vardan Gevorgyan.

According to the Financial Rating of Armenian Banks prepared by NA ArmInfo, the volume of credit investments of the Bank Anelik increased by 4.3 times on July 1, 2017, to 252.1 billion AMD, of which 11% or 27.7 billion AMD accounted for retail loans. The volume of lombard loans the Bank has increased over the first half of 2017 by 24.5% to AMD 6 billion, the share of which in the total loan portfolio of the bank is 2.4%, and in the retail loan portfolio - 21.7%. The growth of the total loan portfolio allowed the bank to increase its assets by July 1 2017 in the annual section in 3.3 times - up to 308 billion AMD. As a result, the share of the loan portfolio in the structure of the bank's assets increased from 61.7% to 81.9%.  Bank Anelik's net profit increased 4 times in 2016 - to 2.4 billion AMD. (exchange rate of the AMD as of 30.06.2017 is 480.47 AMD/USD1).

Anelik Bank has been operating on the market since October 1996. The shareholders of the Bank are Cyprus company FISTOCO LTD with a stake of 59.68% and Lebanese Bank CreditBank S.A.L - 40.32%.