Anelik Bank launches scoring system for business-loans rating

29.03.2012 13:44
Anelik Bank launches scoring system for business-loans rating

YEREVAN, March 29. /ARKA/. Anelik Bank has launched for the first time in Armenia its own special scoring system for business-loans rating, the Bank’s press service reported ARKA on Thursday.

The bank analysts will evaluate the creditworthiness of borrowers more efficiently and faster due to the new system, according to the press release.
Scoring, a mathematically or statistically derived numeric expression for evaluating a borrower’s creditworthiness based on “former” clients’ credit history, is used by bank lenders to determine the likelihood that a potential borrower will repay the credit in due time

The system was developed by Anelik Bank’s experts as a result of their deep research and discussions. The system was also modeled in collaboration with different international structures and embraced the best world experience.

The developers bore in mind Basel Committee requirements, international experience and Anelik Bank’s credit risk management policy. The new system assesses both, the qualitative and the quantitative benchmarks, as well as pledge indicators based on their importance.

“Being the first bank in Armenia to have launched this system for business-credits rating, we are sure that it will not only speed up lending process, but also allow to create favorable conditions for each borrower’s activity,” said Mkrtich Tadevosyan,Director of Educational Center at Anelik Bank, adding that borrowers will be rated by the system.

Another privilege of the system is that it reduces subjectivity demonstrated by credit specialists while comparing one indicator with another, according to Tadevosyan.

“Certainly, the final decision on lending is made by a credit specialist, however, the system’s final scores will influence such decisions very much,” he said.

Anelik Bank was founded on July 9, 1990, registered on October 1, 1991, and received general license from Armenia’s Central Bank in October, 1996. Some 69% of its shares is owned by Lebanese CreditBank S.A.L., Samvel Chzmachian owns 12.25%, Armen Kazarian -6% and Galina Voronina-12.25%.In 1997 it launched Anelik money transfer system that operates now in 63 POSs in 90 countries. -0-


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