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ARMSWISSBANK LAUNCHES A UNIQUE INVESTMENT SAVING PRODUCT FOR ARMENIAN BANKING SYSTEM
by Karina Melikyan
Friday, June 20, 09:54
ArmSwissBank has developed and launched "Reliable and Income
Investments", a unique investment saving product for the Armenian
banking system. The main component of the product is the coupon
mid-term and long-term high-yield government bonds. The press service
of the Bank has told ArmInfo that unlike the classical deposits this
type of saving is tax-exempt and enables the customers to manage
their idle funds more flexibly and more efficiently. Persons with
regular income can make use of this product.
The source says that the minimum amount of investments in the
government bonds is 10 thsd AMD and can gradually be stepped up by
1000 AMD. The relevant agreement is signed with the Bank for 20 years.
The annualized gain is contractual and depends on the market
conditions. The investment is made in AMD from a bank account (if
there is no account in ArmSwissBank, it is opened at the moment of
investing) in accordance with the regularity and amount specified in
the agreement. The period of the agreement and the amount of monthly
payments are fixed at the customers' discretion.
"The peculiarity of this product is that customers are free to
terminate their contracts at any moment without losing money. One
more peculiarity is that physical entities are not obliged to pay tax
for the yield. The advantage of these bonds is that their yield is
not only accumulated but is reinvested," Deputy CEO of ArmSwissbank
Karen Turian said.
He said that the bank will give priority to long-term bonds as their
yield is higher than the yields of other bonds. According to Turian,
long-term bonds prevail in the bank's government bond portfolio,
with the rest being medium-term bonds.
For detailed information about the new product see
http://www.armswissbank.am/am/individuals/investment-services-and-solutions/investmentcumulative-tool/
or call 54-06-96.
The average yield of the 20-year bonds issued on June 12 2014 is
12.03% against 11.64% for similar bonds issued in Dec 2013. In 2012
the yield for such bonds was 16.4%.
According to ArmInfo's Financial Rating of Banks of Armenia,
ArmSwissbank has one of the three biggest government bond portfolios
in Armenia's banking system. As of Apr 2014 it made up 30bln AMD
or 65.3% more than a year before. Government bonds account for 44%
of the bank's assets.
http://www.arminfo.am/index.cfm?objectid=666D15E0-F83F-11E3-80E70EB7C0D21663
From: Emil Lazarian | Ararat NewsPress
by Karina Melikyan
Friday, June 20, 09:54
ArmSwissBank has developed and launched "Reliable and Income
Investments", a unique investment saving product for the Armenian
banking system. The main component of the product is the coupon
mid-term and long-term high-yield government bonds. The press service
of the Bank has told ArmInfo that unlike the classical deposits this
type of saving is tax-exempt and enables the customers to manage
their idle funds more flexibly and more efficiently. Persons with
regular income can make use of this product.
The source says that the minimum amount of investments in the
government bonds is 10 thsd AMD and can gradually be stepped up by
1000 AMD. The relevant agreement is signed with the Bank for 20 years.
The annualized gain is contractual and depends on the market
conditions. The investment is made in AMD from a bank account (if
there is no account in ArmSwissBank, it is opened at the moment of
investing) in accordance with the regularity and amount specified in
the agreement. The period of the agreement and the amount of monthly
payments are fixed at the customers' discretion.
"The peculiarity of this product is that customers are free to
terminate their contracts at any moment without losing money. One
more peculiarity is that physical entities are not obliged to pay tax
for the yield. The advantage of these bonds is that their yield is
not only accumulated but is reinvested," Deputy CEO of ArmSwissbank
Karen Turian said.
He said that the bank will give priority to long-term bonds as their
yield is higher than the yields of other bonds. According to Turian,
long-term bonds prevail in the bank's government bond portfolio,
with the rest being medium-term bonds.
For detailed information about the new product see
http://www.armswissbank.am/am/individuals/investment-services-and-solutions/investmentcumulative-tool/
or call 54-06-96.
The average yield of the 20-year bonds issued on June 12 2014 is
12.03% against 11.64% for similar bonds issued in Dec 2013. In 2012
the yield for such bonds was 16.4%.
According to ArmInfo's Financial Rating of Banks of Armenia,
ArmSwissbank has one of the three biggest government bond portfolios
in Armenia's banking system. As of Apr 2014 it made up 30bln AMD
or 65.3% more than a year before. Government bonds account for 44%
of the bank's assets.
http://www.arminfo.am/index.cfm?objectid=666D15E0-F83F-11E3-80E70EB7C0D21663
From: Emil Lazarian | Ararat NewsPress