YEREVAN, November 22. /ARKA/. Converse Bank said its gold-secured loan portfolio has grown by 14 percent since the beginning of the year to more than 15 billion drams as of November 20.

The bank attributed the growth of the gold-secured loan portfolio to several factors. First of all, the Bank offers lending terms for this loan type that are among the best ones at the market; besides, it regularly makes favorable offers to the customers.”

In particular, within the framework of a promotion campaign effective now , the Bank offers its customers AMD loans in the amount up to 130 percent of the appraised cost of gold. The maximum loan amount is AMD 5 million, the maximum maturity is 6 months, and the annual interest rate is 13-14 percent.

“No additional monthly service fees will be charged within this campaign. The interest rate on the loan secured with pledge of gold is low, since the service fee is charged only at the lending stage”, the Bank said.

Within the framework of the campaign, loans will be issued both in AMD and in foreign currency, it said.
Converse Bank’s shareholders are the Argentinean Advanced Global Investments LLC (80.94%) Armenia’s Apostolic Church (5%) and the national postal operator HayPost Trust Management B.V. Company (14,06%). ($1 - 483.66 drams). -0-