Armeconombank's participation in EBRD co-financing project reaches $7 million

26.11.2009 09:31
Armeconombank's participation in EBRD co-financing project reaches $7 million

YEREVAN, NOVEMBER 26, /ARKA/. Armeconombank said Tuesday that on November 3 it signed a new agreement with the European Bank for Reconstruction and Development (EBRD) within the frameworks of the latter’s Co-financing Project, whereby it received additional $2 million to the previous $5 million.

The press service of Armeconombank reported that loans from $400,000 to $1.2 million will be provided at 12% interest rate with repayment period up to 5 years.

In Q3 2009, the bank’s s assets grew by 15.5%, loans - by over 3.3 billion Drams, demand deposits - by 1.5 billion Drams, deposits of legal entities - by 1.2 billion Drams, and individual deposits grew by more than 9.2%. As a result the bank earned about 300 million Drams in net profits.

As of November 23, the total capital of Armeconombank exceeded 8.6 billion Drams, its total assets exceeded 53 billion Drams, loans amounted to 29 billion Drams, and individual deposits to over 6 billion Drams. The bank has 17 branches in Yerevan, 17 branches in various regions of Armenia, and one branch in Nagorno-Karabakh.  -0-


Tags:

Partners news
Loading...

Related Posts
No Related Post