Friday, November 17 2017 18:22
Karina Melikyan

Converse Bank reconsidered terms of lending in installments - 2 million AMD for 3 years at 9% rate 

Converse Bank reconsidered terms of lending in installments - 2 million AMD for 3 years at 9% rate 

ArmInfo. Converse Bank has improved the terms of lending in installments, henceforth offering its customers a maximum of 2 million AMD with a maturity of up to 3 years at an annual interest rate starting at 9%. As the press service of the Bank told ArmInfo, the decision on granting a loan is accepted as soon as possible - within 15 minutes.

According to the source, the Bank also offers the holders of its Shopping Card loans in installments at a 0% interest rate with a maturity of 2 years.

"Moreover, in order to make loans available to as many people as possible, the Bank has expanded the geography of its services and attracted as a agent a wide network of CJSC Haypost (HayPost) CJSC, carrying out lending in installments also in the regions of Armavir, Ararat, Gegharkunik, Vayots Dzor, Shirak, Kotayk, Tavush, Lori, Aragatsotn," the Bank reported.

According to the Financial Rating of the Armenian Banks prepared by the NA ArmInfo as of October 1, 2017, Converse Bank increased the volume of consumer loans by 40.4% year-on-year to 39.6 billion AMD. In the total loan portfolio of the Bank, which at that date was 150.1 billion with an annual growth of 39.3%, the share of consumer loans was 26.4%. The portfolio of retail loans Converse Bank increased by 37.8% in annual terms, to 66.1 billion AMD.

Converse Bank has been operating in the Armenian market since September 1996. As of July 1, 2017, the Bank's shareholders are Advanced Global Investments LLc (hand-Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%, the Cathedral of the Mother See of Etchmiadzin - 5%.

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