YEREVAN, August 24. /ARKA/. Areximbank-Gazprombank Group is planning to increase its small and midsized enterprise (SME) financing by another million drams, the bank’s press office reported.

Lending to SME is a promising direction, and the bank will be actively involved in it, the report says.

In the previous years, the bank was in the top three list of banks lending to SME under a central bank refinancing program. The increasing of the SME financing is part of Areximbank’s strategic development for the period till 2017.

The bank’s press office also said that lending to SME will be implemented from both own funds and international loans.

Today Areximbank is extending loans at very favorable conditions – the amount of the loan is up to 50 million drams, interest rate is 14% per annum, loan term is 7 years.

Areximbank-Gazprombank Group (former Areximbank, renamed on June 12, 2009) was established in August 1998 for supporting entrepreneurship and serving financial flows between Russia and Armenia.

The loan portfolio of Areximbank-Gazprombank Group was about 66 billion drams as of the second quarter, a reduction of 5.4% since the beginning of the year. ($1 – 477.7 drams). –0--