BTA Bank Armenia launches program to support small and medium companies

15.10.2010 16:44
BTA Bank Armenia launches program to support small and medium companies

YEREVAN, October 15, /ARKA/. As part of a special offer designed to support small and medium-sized companies BTA Bank Armenia has lowered its interest rates to 12% for loans in US Dollars and 13% for loans in Armenian Drams. Loans, extended under the security of movable and immovable property, are repayable from 6 months to 4 years. Outside the special offer the interest rate is 17%.

‘The special offer is designed for small companies and private entrepreneurs and takes into account their requirements. It is an interesting offer both for old and new borrowers who have not yet credit histories,’ the bank said in a press release. The special offer is effective until December 20. BTA Bank announced a similar offer last May by lowering interest rates to 13-16% while the amount of a loan varied between $10,000 to $50,000.

Some 48.9% in BTA Bank is owned by its strategic partner, the largest Kazakh AO BTA Bank. Thirty-one percent is owned by Austrian

ZRL Beteilingungs, 16.3% by Mobilex Energy Ltd (Kazakhstan) and 3.7 % by AMK Invest construction and design bureau. -0-


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