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).
