Converse Bank launched a summer lending action on improved terms

ArmInfo. Converse Bank launched a summer lending activity on improved terms, in particular, loans secured by real estate and credit cards. As ArmInfo was told in the press service of the Bank, within the framework of this action, which will last until June 30 this year, loans will be provided in order to refinance loans taken from other banks.

According to the source, loans for the purchase of real estate and housing are provided with a maturity of 180 months, and consumer loans secured by real estate and credit cards with a non-renewable limit - up to 84 months. When making a loan in foreign currency for an amount equivalent to 15-25 million drams, the client's income is not analyzed. The commission for consideration of the credit application, issue and cashing is zero. The Bank undertakes the costs for the preliminary assessment of the pledged property and notarization.

Detailed terms of the promotion are available at https://www.conversebank.am/hy/action/

According to the Financial Rating of the Armenian Banks prepared by NA ArmInfo, as of 31.03.2018, Converse Bank is included in the TOP-5 by the volume of retail loans - 73.8 billion drams ($ 153.8 million), providing an annual growth of 34.4%. In the total loan portfolio of the Bank, the share of retail lending exceeds 45%, and in the total retail loans on the market, Converse Bank accounts for about 9%.  The first quarter of 2018, the Bank completed with a profit of 1.01 billion drams ($ 2.1 million), with an annual growth rate of 2.6 times. With respect to the mortgage portfolio and the volume of funds on credit cards, Converse Bank is included in the TOP-3.

Converse Bank has been operating in the Armenian market since September 1996. The Bank's shareholders are Advanced Global Investments LLc (Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%, the Cathedral of the Mother See of Etchmiadzin - 5%. The Bank's branch network has 34 branches, out of which 13 are located in Yerevan, 20 - in the regions of Armenia and 1 - in the NKR.