Wednesday, January 16 2019 13:12

ArmInfo.For the second year in a row, conscientious borrowers  from Ardshinbank receive a 5% cashback on interest payments on loans  secured by real estate.  As the press service of the bank reports, on  the eve of the New Year - December 28, 1716 customers received  cashback for a total amount of 50 million AMD.

Ardishbank provides loans secured by real estate at an interest rate  starting from 9.75%, up to 40 million AMD, with a maturity of up to  15 years, without analyzing the borrower's income. The advantage of  the loan is real estate insurance and accident insurance, indemnities  for which in case of insurance events are paid to the borrower. In  addition, favorable conditions are applied for such loans when  transferring a loan from another bank to Ardshinbank.  More detailed  information about the program can be obtained on the  official  website of the bank, by clicking on the  https://goo.gl/t5yZYv and  https://goo.gl/4QXUze or by calling the 24- hour help desk at (012)   222222.

According to the Financial Rating of Banks of Armenia as of October  1, 2018, prepared by ArmInfo, Ardshinbank is in the TOP-3 in terms of  mortgage loans - over 33 billion AMD ($ 68.4 million) or 14.03% in  total mortgage loans of the banking system. In the loan portfolio of  Ardshinbank, the share of mortgage exceeds 7%. The absolute value of  the Bank's mortgage loans increased y-o-y by 15.5%. 9 months of 2018  Ardshinbank completed with a net profit of 4.7 billion AMD,  increasing this figure in y-o-y terms by 6.4%.

To note, Ardshinbank was founded in 2003. The major shareholders of  Ardshinbank as of October 1, 2018 are Arins Group LLC (former   Business Investment Center LLC) with a 67.97% share in the capital  and REGION Industrial and Financial Corporation CJSC - 29.52%.  Ardshinbank is the second largest bank in Armenia, having one of the  largest branch networks, consisting of 64 subdivisions. Ardshinbank  is the only private institution in Armenia that has been assigned  ratings by two international rating agencies (Moody's and Fitch),  equal to the country rating of Armenia.