Armenian Development Bank introduces “Business loan with airbag” new credit type

17.04.2012 16:17
Armenian Development Bank introduces “Business loan with airbag” new credit type

YEREVAN, April 17. /ARKA/. The Armenian Development Bank introduces “Business loan with airbag” new commercial credit, the bank’s press service reports ARKA on Tuesday.

Such decision is justified by the business peculiarities and multi-directed cooperation with the customers, according to the press release.

This loan will give opportunity to legal entities and private businessmen to receive funding up to 100% from estimated value of collateral. The loan is provided at 12-16 % annual interest rate with 5-year maturity period. The amount of loan in foreign currency is equivalent to 100 million drams.
The flexible credit policy of Armenian Development Bank will help legal entities and private businessmen to finance their business in the best way, as well as offer the most preferable lending options.

The Armenian Development Bank was established in 1990. Prior to 1996 it operated as Bank of Reconstruction and Development. Its shareholders are Ruben Hayrapetyan - 19.98%, Ara Mehakyan - 16.95%, Grigor Termenjian - 16.03%. ($1 – 392.55 drams). -0-


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