Armswissbank offers trade financing facilities at 8-10% interest rate

09.04.2010 21:29
Armswissbank offers trade financing facilities at 8-10% interest rate

YEREVAN, April 9. /ARKA/. Armswissbank said it offers trade financing facilities at 8-10% interest rate as part of its cooperation with EBRD.

Under a January 27 agreement, signed by EBRD and Armswissbank, EBRD increased the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to Armswisbank for on-lending to small and medium companies.

Established in 2004, ArmSwissBank is a dynamically growing financial institution, operating as a private, corporate and investment bank, with a strong emphasis on brokerage services and liquidity management to the Armenia’s financial sector.

As of December 31, 2009 its assets stood at 29.7 billion Drams, liabilities at 21.6 billion Drams, total capital at 8.1 billion Drams, the authorized capital was 7 billion Drams, credit investments – 10.4 billion Drams, customer liabilities – 8.6 billion Drams. Last year the bank earned 553.2 million Drams in net profit. ($1- 399.45 Drams).  -0-


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