ArmInfo. In Ardshinbank, loans secured by gold are available at an interest rate starting from 0.75%, and these loans are granted for consumer and agricultural needs. The press service of the bank told ArmInfo that loans secured by gold are issued both in drams and in US dollars at an interest rate of 2-5% (the annual actual rate is 7.67-24%).
But, in the presence of health and accident insurance policies, interest rates are reduced by 1.25-2.25 percentage points. According to the source, loans are granted in the amount of up to 600% of the value of the pledged gold, with a maturity of up to 5 years. Along with this, Ardshinbank provides customers with the opportunity to independently choose a convenient way for them to repay a loan. This loan is granted in minutes, it is only necessary with a personal identity document to visit one of the 63 branches, with the exception of the "Cascade", "Zvartnots" and head office of the bank.
For more information on the terms of this credit product, please refer to https://goo.gl/nz19UV, or by calling (012) 22-22-22.
According to the Financial Rating of Banks of Armenia as of October 1, 2018, prepared by ArmInfo IC, Ardshinbank leads in terms of lombard loans - over 33,96 billion drams ($ 70,4 million) or 7,5% in total loan portfolio of the bank. The absolute value of Lombard loans of the Bank increased annually by 11%, but only for 9 months of 2018 - by 12.2%. Ardshinbank completed 9 months of 2018 with a net profit of 4.7 billion drams, maintaining its position in the TOP-5.
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) with a 67.97% share in the capital and REGION Industrial Finance Corporation CJSC - 29.52%. Ardshinbank is the second largest bank in Armenia, having one of the largest branch networks, covering both capital and the regions. 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.