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OCT 1 ARMECONOMBANK IS LAUNCHING A NEW CREDIT PROGRAM TO STABILIZE THE ARMENIAN ECONOMY
ArmInfo
2009-09-29 19:11:00
ArmInfo. Oct 1 Armeconombank is launching a new credit program to
stabilize the Armenian economy, the chairman of the board of the bank
David Sukiassyan said during a press-conference today.
Under this program the bank will issue loans at 15% for 5 years.
Sukiassyan says that recently the banks have been accused of being
reluctant to reduce their interest rates and thereby curbing exports
and imports.
Armeconombank is going to stimulate the economy by issuing credits
with lower rates.
Particularly, the bank is going to finance export and import operations
at 12%.
Meanwhile, the bank continues its activity on the mortgage market. It
has reduced interest on mortgage loans by 2% to 14% for the purchase
and 16% for the repair and construction of a house.
In Q3 2009, despite the financial crisis, the confidence in
Armeconombank was growing. The assets grew by 15.5%, crediting by
3.3bln AMD, call deposits by 12.2bln AMD, time deposits by 9.2%. In
Jan-Sept 2009 the bank's net profit totalled 300mln AMD.
ArmInfo
2009-09-29 19:11:00
ArmInfo. Oct 1 Armeconombank is launching a new credit program to
stabilize the Armenian economy, the chairman of the board of the bank
David Sukiassyan said during a press-conference today.
Under this program the bank will issue loans at 15% for 5 years.
Sukiassyan says that recently the banks have been accused of being
reluctant to reduce their interest rates and thereby curbing exports
and imports.
Armeconombank is going to stimulate the economy by issuing credits
with lower rates.
Particularly, the bank is going to finance export and import operations
at 12%.
Meanwhile, the bank continues its activity on the mortgage market. It
has reduced interest on mortgage loans by 2% to 14% for the purchase
and 16% for the repair and construction of a house.
In Q3 2009, despite the financial crisis, the confidence in
Armeconombank was growing. The assets grew by 15.5%, crediting by
3.3bln AMD, call deposits by 12.2bln AMD, time deposits by 9.2%. In
Jan-Sept 2009 the bank's net profit totalled 300mln AMD.