YEREVAN, December 11 / ARKA /. Armenian Ardshinbank said today it has raised the ceiling of credit lines available to holders of its payroll cards up to ten times the size of their net wage. According to a bank’s press release, the credit lines are available in the national currency, the dram.

The bank said also it has added a new option to repayment mechanisms allowing monthly repayment and use of interest-free period.

Head of retail business unit Arthur Gyulagyan is quoted as saying that the bank appreciates highly its cooperation with holders of its payroll cards expanding the quality and range of services.

The press release also says that Ardshinbank is one of the leading banks in Armenia by the number of plastic cards and relating services.

JSC Ardshinbank, founded in 2002, is one of the leading banks in Armenia running 55 branches throughout the country. Its current Moody's rating is Ba3 with stable outlook. In early 2014, the bank raised an $18 million syndicated loan from international investors becoming the first bank in Armenia to sign such a deal without the support of international donor organizations. -0-