17.11.2011 15:17
YEREVAN, November 17. /ARKA/. The total loan portfolio of Farm Credit Armenia universal crediting organization, including leasing, amounted to 2.26 billion drams as of late October, having increased by 7.6% from the previous month.
Armen Gabrielian, the organization’s director, was quoted as saying in a press release that some 1054 transactions were made in the reporting period and the number of clients grew to 890 people. He said the repayment rate is 99.4% of the total loan portfolio. Gabrielian said also the organization is the only commercial cooperative in the financial sector in Armenia.
"Our organization provides loans for small and medium enterprises in rural areas only. Not all banks and crediting organizations reach out to rural populations. The terms of our loan products are a serious competitor in the market," he said.
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