Tuesday, February 19 2019 12:15

ArmInfo.In Ardshinbank, loans secured by gold are available at an interest rate starting from  0.75%, and these loans are granted for consumer and agricultural  needs.  The press service of the bank told ArmInfo that loans secured  by gold are issued both in drams and in US dollars at an interest  rate of 2-5% (the annual actual rate is 7.67-24%).

But, in the presence of health and accident insurance policies, interest rates  are reduced by 1.25-2.25 percentage points.  According to the source,  loans are granted in the amount of up to 600% of the value of the  pledged gold, with a maturity of up to 5 years. Along with this,  Ardshinbank provides customers with the opportunity to independently  choose a convenient way for them to repay a loan. This loan is  granted in minutes, it is only necessary with a personal identity  document to visit one of the 63 branches, with the exception of the  "Cascade", "Zvartnots" and head office of the bank.

For more information on the terms of this credit product, please  refer to https://goo.gl/nz19UV, or by calling (012) 22-22-22.

According to the Financial Rating of Banks of Armenia as of October   1, 2018, prepared by ArmInfo IC, Ardshinbank leads in terms  of  lombard loans - over 33,96 billion drams ($ 70,4 million) or 7,5%  in  total loan portfolio of the bank.  The absolute value of Lombard  loans of the Bank increased annually by 11%, but only for 9 months of  2018 - by 12.2%. Ardshinbank completed 9 months of 2018 with a net  profit of 4.7 billion drams, maintaining its position in the TOP-5.

To note, Ardshinbank  was founded in 2003. The major shareholders of  Ardshinbank as of  October 1, 2018 are Arins Group LLC (former  Business Investment Center) with a 67.97% share in the capital and  REGION  Industrial Finance Corporation CJSC - 29.52%. Ardshinbank is  the  second largest bank in Armenia, having one of the largest branch   networks, covering both capital and the regions. Ardshinbank is the  only  private institution in Armenia that has been assigned ratings  by two  international rating agencies (Moody's and Fitch), equal to  the  country rating of Armenia.