ArmInfo.Ardshinbank offers business loans to SMEs and farmers at an interest rate starting from 8% per annum, with a maturity of up to 15 years, up to 100 million drams, the press service of the Bank informed ArmInfo.
According to the source, depending on the claimed loan amount, it may be approved without a financial analysis of the client's activities, without a certificate of income and without collateral. These loans can be issued in all branches of Ardshinbank both in Armenia and in the Republic of Artsakh. This credit product is available to legal entities and private entrepreneurs - residents of Armenia and the Republic of Artsakh, engaged in SMEs and agriculture.
More details on the terms of the proposed business loans are available on the official website of Ardshinbank under the link https://bit.ly/2yMuqRb
According to the Financial Rating of Armenian Banks prepared by ArmInfo as of April 1, 2018, Ardshinbank is in TOP-3 by the main financial indicattors. The banks loan investmetns totaled 412,3 bln drams ($858,9 mln, the 2nd place) with 14,1% y-o-y growth. The volume of crediting by the bank of the agricultural sector exceeded 4.4 billion drams ($ 9.2 million) with significant y-o-y growth. In the SME sector, Ardshinbank's credit investments made up 73.2bln AMD ($ 152.5mln, 4th position) or 18% of the loan portfolio of the bank. In the total volume of SME lending on the banking market, the share of Ardshinbank reaches 11%, and in total agro-loans - 3%.Ardshinbank completed the first quarter of 2018 with a net profit of 2.2 billion drams ($ 4.6 million, the 2nd position), with an annual growth of 76.3%. In terms of loan proceeds, the Bank holds the 2nd position, ensuring their share in total revenues at a level above 44%.
To recall, Ardshinbank was founded in 2003. The majority shareholders of Ardshinbank are Arins Group LLC (renamed OOO Center for Business Investments) on January 1, 2018 with a stake of 67.97% and CJSC Industrial and Financial Corporation REGION - 29.52%. Ardshinbank is the second largest bank in Armenia, having one of the largest branch networks, consisting of 63 subdivisions. Ardshinbank is the only private institution in Armenia that has been assigned ratings of two international rating agencies (Moody's and Fitch) equal to Armenia's country rating.