YEREVAN, June 17, /ARKA/. Armswissbank said in a press release it begins offering credits and renewable and non-renewable credit lines for its clients as part of two programs designed to support small and medium-sized businesses and trade respectively. It said these credit instruments are offered as part of cooperation with the European Bank for Reconstruction & Development (EBRD).

Credits to companies meeting the requirements of the first program are issued at 15% interest rate and those meeting the requirements of the second program at 10%. The minimum credit amount (it may be allocated in USD, Euros and other convertible currency) is equivalent to $100,000.

Armswissbank is a fully Swiss owned bank. On March 31 its assets totaled 36.6 billion Drams, liabilities stood at 28.2 billion Drams, the total capital was worth 8.4 billion Drams and the chartered capital was worth 7 billion Drams. Its credit investments stood at 10.8 billion Drams, client liabilities at 11.3 billion Drams. The bank earned 272.6 million Drams in net profits in the first quarter of the year.  -0-

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The volume of interbank overnight credits provided via the NASDAQ OMX Armenia credit market stood at AMD 16.24 billion in April, a press release by NASDAQ OMX Armenia said.

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Credits of Armenian banks to resident clients grow by 5.9% in Q1 to 790.1 billion Drams

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The amount of overdue credits in February shrank by 5% from January to 5.1 billion Drams, the Central Bank of Armenia said in its monthly information bulletin.

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Consumer credits of the banks of Armenia were 134.8 billion drams increased by 0.8 as of the end of November 2009

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Armenian ACBA Credit Agricole Bank accounts for 20.46% of all credits extended to individuals and in this sense it is the leading Armenian bank.

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Outstanding credits of Armenian commercial banks grew by 5.6 billion drams to 9 billion drams

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According to the monthly bulletin of Armenia’s Central Bank, the volume of consumer credits, allocated by commercial banks to local economic entities made 134.6 billion Drams in late September 2009.

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