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ARMENIA'S CITIZENS ARE POORLY AWARE ABOUT LEASING PRIVILEGES: GISHYAN
YEREVAN, April 23./ARKA/. Citizens of Armenia are not well aware of
leasing privileges, CEO of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan
said Tuesday.
"First and foremost, there is an issue of poor awareness about what
leasing is, what its main privileges are compared to some other type
of lending," he said at the news conference on the occasion of AGBA
Leasing tenth anniversary.
Amid the main privileges of leasing Gishyan singled out longer-term
financing, and that any leasing subject is a subject to secure
the loan.
"The contracts are mainly signed for 5-7 years (up to 10 years for
real property), and lending is usually shorter," he noted.
As to interest rates, Gishyan highlighted they can differ, as in case
with banking lending, and an annual interest rate varies within 12-18%
for movable, and 10-14% for immovable properties.
According to Armenia's Central Bank, an average interest rate on
loans was 14.9% at the end of February.
AGBA Leasing CJSC was established in April 2003. The organization
supports housing subjects in equipment. It offers leasing of
agricultural machinery, transport, medical equipment, and real property
(since 2011). -0-
YEREVAN, April 23./ARKA/. Citizens of Armenia are not well aware of
leasing privileges, CEO of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan
said Tuesday.
"First and foremost, there is an issue of poor awareness about what
leasing is, what its main privileges are compared to some other type
of lending," he said at the news conference on the occasion of AGBA
Leasing tenth anniversary.
Amid the main privileges of leasing Gishyan singled out longer-term
financing, and that any leasing subject is a subject to secure
the loan.
"The contracts are mainly signed for 5-7 years (up to 10 years for
real property), and lending is usually shorter," he noted.
As to interest rates, Gishyan highlighted they can differ, as in case
with banking lending, and an annual interest rate varies within 12-18%
for movable, and 10-14% for immovable properties.
According to Armenia's Central Bank, an average interest rate on
loans was 14.9% at the end of February.
AGBA Leasing CJSC was established in April 2003. The organization
supports housing subjects in equipment. It offers leasing of
agricultural machinery, transport, medical equipment, and real property
(since 2011). -0-