Converse Bank improved conditions of car loans

ArmInfo. Within the framework of the new campaign, which will last until August 31, Converse Bank significantly improved the terms of car loans by making car loans  affordable for a larger number of customers. This is stated in the  official message of the Bank.

According to the source, the Bank offers loans to customers in AMD  with a maturity of up to 84 months (annual interest rate starting at  11%), with a prepayment of 0-10%. The maximum loan amount is 12  million drams. Insurance of the pledged property within the framework  of the action is not required, and the corresponding decision is made  within one day.

In addition, to purchase a car from the primary market, a vehicle is  not required. As a pledge value, the seller, represented by the  client, bases the price on the selling price of the car.

Details of the action can be found by clicking on the following link:   https://conversebank.am/hy/actionmobil/.

According to the Financial Rating of the Armenian Banks as of  31.03.2018, prepared by IC ArmInfo, Converse Bank is included in the  TOP-5 by the volume of retail loans - 73.8 billion drams ($ 153.8  million), providing an annual growth of 34.4%. In the total loan  portfolio of the Bank, the share of retail lending exceeds 45%, and  in the total retail loans on the market, Converse Bank accounts for  about 9%.  The first quarter of 2018, the Bank completed with a  profit of 1.01 billion drams ($ 2.1 million), with an annual growth  rate of 2.6 times. With respect to the mortgage portfolio and the  volume of funds on credit cards, Converse Bank is included in the  TOP-3.

Converse Bank has been operating in the Armenian market since  September 1996. The Bank's shareholders are Advanced Global  Investments LLc (hand-Eduardo Ernekian) - 80.94%, HayPost Trust  Management B.V. - 14.06%, the Cathedral of the Mother See of  Etchmiadzin - 5%. The Bank's branch network has 34 branches, out of  which 13 are located in Yerevan, 20 - in the regions of Armenia and 1  - in the NKR.