YEREVAN, March 15. /ARKA/. Anelik Bank will resume extending loans for purchasing cars in instalment, the bank’s press office reported on Tuesday. The bank also simplifies the lending procedure.

According to the press release, the loans will be extended for purchasing cars not only at primary, but also at secondary markets.

Money for purchasing a car at primary market will be lent for five years at annual interest rates starting from 15%, and at secondary market for three years at 18% and higher interest rates.

Hayk Grigoryan, chief of the bank’s unit in charge of lending, said that these interest rates are low.

Besides, buying a car at a secondary market, a borrower can also borrow money for purchasing a 10-year-old car.

Grigoryan said the loan must be repaid until the purchased car turns 15 years.

Anelik Bank was established on July 9, 1990, and registered on October 1, 1991.

In October 1996, the bank received its license from the Central Bank of Armenia.

CreditBank S.A.L. holds 51% of the bank’s shares, 12.25% belong to Samvel Chzmachyan, 12.25% to Arthur Arakelyan, 12.25% to Armen Ghazaryan and 12.25% to Galina Voronina.

In 1997, the bank established own payment system called Anelik, which operates in its 63,000 outlets in 90 countries.
Anelik Bank is the only bank in Armenia to have subsidiary in Russia. It is Anelik Ru.

The bank cooperates with all international credit programs operating in Armenia’s territory.

Anelik Bank has 11 branches. -0-