Friday, December 10 2021 14:40

ArmInfo. On the eve of the New Year, Ameriabank launched 2 unprecedented offers on business loans with a six-month grace period, which exempted the principal and  interest payments. Director Retail Banking at Ameriabank CJSC Arman  Barseghyan announced this in the evening of December 9 during a press  conference, noting that the grace period established within the  framework of these offers will allow business entities to reduce the  credit burden and direct funds available for this time to business  development.

Presenting new business loan programs, he, in particular, said that  within the framework of both offers, which started on December 8 and  will operate until March 31, 2022, the loan amount is set in the  range from 20 million drams to 150 million drams, available in three  currencies - drams, US dollars and euros, and is provided under a  pledge guarantee. The maturity of the loan for the two shares is set  from 4 to 10 years. According to Barseghyan, after a six-month grace  period, from the 7th month, interest starts counting, which are quite  competitive: on AMD loans - 11.9%, in USD - 7.9%, in EUR - 6.9%. "It  is important to note that the effective rate for the entire period of  the loan is even lower: for AMD - 10.5%, for USD - 6.5% and for EUR -  5.5%," he explained, adding that entities representing almost all  sectors of the Armenian economy can apply to these promotions.

As Barseghyan further informed, the second offer differs from the  first one in that this proposal is developed for SMEs that have  credit obligations in other Armenian banks and would not mind  transferring to Ameriabank on more attractive terms. "If the loan is  transferred to our bank, the borrower will receive a lump sum  amounting to 5% of the total loan amount," he stressed, while noting  that the client is given a choice - to agree to this amount or to use  a six-month grace period.

When granting a loan, no commission will be charged, and the bank  will bear all the costs associated with the collateral. "Thus, the  borrower is given the opportunity to transfer the loan to our bank  without additional costs on terms of lower interest rates and with  the receipt of additional funds," he explained. But a special  requirement is imposed on the borrower's credit history - at the time  of filing the application, the total delay should not exceed 30 days.

"By launching these offers, we want to contribute to the development  of SMEs, thereby increasing the loan portfolio and the volume of  financing in this area," Barseghyan said, adding that this year the  portfolio of business loans of Ameriabank has grown by 20%.

Ameriabank is the largest bank in Armenia in terms of key indicators,  with a fast-growing business with a special emphasis on green  financing. Since 2009, the bank has funded over $ 250 million in  renewable energy projects, including solar, photovoltaic and wind  power. Ameriabank is one of the most stable financial institutions in  Armenia with a clearly formulated digital agenda. Ameriabank is a  universal bank providing corporate, investment and retail banking  services in a comprehensive package. According to the latest results,  Ameriabank is the largest bank in Armenia, with assets exceeding AMD  1 trillion.

According to the Financial Rating of Banks of Armenia as of September  30, 2021, prepared by ArmInfo IC, Ameriabank is the leader in terms  of assets - 1.1 trillion drams (and this is the only trillion mark in  the banking market), in terms of credit investments - 649.2 billion  drams, in terms of total capital - 124.1 billion drams, on total  liabilities - 954.8 billion drams, on net profit for 9 months - 14.5  billion drams. In addition, Ameriabank is included in the TOP-3 in  corporate and retail lending, in term deposits, in attracting from  international organizations, and in demand liabilities it takes the  lead. In terms of lending to sectors of the economy, Ameriabank also  occupies a leading place in the top three, with the main focus of  financing on SMEs and the industrial sector, where a total of about  40% of the bank's loan portfolio is directed. It is noteworthy that  today Ameriabank is the only bank in Armenia, whose majority  shareholders include an institutional investor represented by the  European Bank for Reconstruction and Development (EBRD) and the Asian  Development Bank (ADB).