ACBA-CREDIT AGRICOLE BANK announces new type of loan called Credit+

26.06.2014 18:59
ACBA-CREDIT AGRICOLE BANK announces new type of loan called Credit+

YEREVAN, June 26. /ARKA/. ACBA-CREDIT AGRICOLE BANK has unveiled today a new type of loan called Credit+ designed specifically for legal entities which have taken loans from another bank or credit organization and need to obtain new funds without spending additional time, the bank’s press office reports.

The Credit+ loan is extended without financial and economic analysis of the borrower and without property evaluation and insurance expenses.

The decision is made in one hour and the borrower is allowed to change the currency of the loan. Another advantage is that if a corporate borrower repays the same amount every month, it may be provided with additional funds.

ACBA-CREDIT AGRICOLE BANK extends the Credit+ in Armenian drams, US dollars and euros for 12 to 72 months at 8% annual interest rate.

The minimum size of the secured loan is AMD 14,000,000, $35,000 or €28,000, and the minimum amount of an unsecured loan is AMD 3,000,000, $7,500 and €6,000.

In addition, all legal entities who apply to ACBA-CREDIT AGRICOLE BANK before August 10 to open free current accounts will be allowed to use ACBA ON-LINE system for free.

Besides, they will be provided with Visa Business cards for free without charging service commission for the first 12 months and with ArCa Business cards.

Legal entities may also take a loan or a credit line for stimulating imports/exports at 8.99% annual interest rate. CJSC ACBA-CREDIT AGRICOLE BANK (formerly the Agricultural Cooperative Bank of Armenia, ACBA) was established in 1995 as part of the EU TACIS program. In September 2006, the French banking group Credit Agricole became its largest shareholder.The bank’s assets on April 1, 2014 amounted to 264.6 billion drams ($640.2 million), credit investments stood at 178 billion drams ($430.6 million), equity capital – at 53 billion drams ($128.2 million), the amount of deposits stood at 109.6 billion drams ($265.1 million). The bank runs now 49 branches across the country. -0----


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