Thursday, July 25 2019 13:01
Karine Melikyan

Ardshinbank offers new terms for loans with real estate loans pledge

Ardshinbank offers new terms for loans with real estate loans pledge

ArmInfo.Ardshinbank has significantly improved the terms of loans in Armenian drams with real estate pledge, the press service of the Bank informs. The Bank has  launched a "Credit Vacation", according to which customers can move  their loans with real estate pledge to Ardshinbank up to 3% lower  annual interest rate, extend the loan term and simplify the monthly  repayments. Moreover, the customer is free not to make any repayments  for the first six months.

The annual interest rate of the loan has dropped to 13% (effective  annual interest rate starts from 14.49%), the maximum credit limit  has increased up to AMD 150 million, the maximum term is now 10  years, and the loan is available at 100% LTV ratio. Moreover, the  loan is provided without a mandatory requirement for income analysis.

To note, within the framework of loans with real estate pledge,  Ardshinbank's responsible borrowers receive a 5% cashback from the  repaid interests. 

For further details on loans with real estate pledge, please visit  https://goo.gl/t5yZYv or call Ardshinbank's 24/7 call center at  012222222. 

According to the data of the Financial Rating of Banks of Armenia,  prepared by the ArmInfo IC, as of April 1, 2019Ardshinbank occupies  the 2nd position in terms of consumer credits - 112.5 billion drams  ($ 231.2 million). In the loan portfolio of the bank, the share of  consumer loans reaches 25%, and in total consumer loans of the  banking system, the share of Ardshinbank is 14%. The volume of  consumer loans from Ardshinbank increased on an annual basis by  43.1%. In their structure, the share of loans secured by real estate  is 13% or 14.2 billion drams ($ 29.1 million), with a y-o-y growth of  2.2-fold. In terms of consumer loans secured by real estate,  Ardshinbank also occupies the 2nd position.  To note, Ardshinbank was  founded in 2003. As of April 1, 2019, Arinshinbank's majority  shareholders are Arins Group LLC (formerly called Business Investment  Center LLC) with a 67.97% share in the capital and REGION Industrial  Finance Corporation CJSC - 29.52%. Ardshinbank is the second largest  bank in Armenia, which has one of the largest branch networks,  consisting of 63 divisions, of which 18 are located in Yerevan, 42 -  in the regions and 3 - in Artsakh. The bank has a rating of  international authoritative rating agencies, equal to the country  rating of Armenia, which is considered to be a high rating in the  world practice. The Banker magazine of The Financial Times publishing  house recognized Ardshinbank as the best bank in Armenia in 2018.

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