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Shortage of cash assets is the main reason behind high interest rates on loans, prime minister says

13.06.2018 18:11

Shortage of cash assets is the main reason behind high interest rates on loans, prime minister says

YEREVAN, June 13. /ARKA/. The key reason why Armenia-based banks provide loans at high interest rates is the shortage of cash assets, said Prime Minister Nikol Pashinyan in a live broadcast on his Facebook page.

Pashinyan admitted that interest rates on loans in Armenia are very high and called this situation one of the serious problems for the economy. He noted that the government should continue to work on solving this problem.

"There is a shortage of financial resources in the country. This is why we must work to increase the flow of financial resources to Armenia, and the best way to do so is to attract investment. Therefore, we need to solve the problem in accordance with this logic," he said.

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Converse Bank has considerably improved the terms of issuing some loans

16.05.2018 19:07

Converse Bank has considerably improved the terms of issuing some loans

The Yerevan-based Converse Bank has launched a campaign of issuing loans secured with real estate as collateral and credit cards, significantly improving the lending terms

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Consumer lending by Armenian banks grew by 4% to 532.2 billion drams

21.03.2018 17:24

Consumer lending by Armenian banks grew by 4% to 532.2 billion drams

Consumer lending by Armenian banks at the end of January, 2018 amounted to 532.2 billion drams, an increase of 4% when compared to 2017 December

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Unibank and Armenia’s Export Insurance Agency to provide affordable loans to small and medium-sized exporters

21.02.2018 12:32

Unibank and Armenia’s Export Insurance Agency to provide affordable loans to small and medium-sized exporters

Unibank and Armenia’s Export Insurance Agency have signed a cooperation agreement today to provide affordable loans to small and medium-sized exporters, starting from 8% annual interest rate

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Government to subsidize loans on intensive gardening

21.12.2017 17:47

Government to subsidize loans on intensive gardening

The government of Armenia has approved today a pilot program designed to subsidize interest rates on loans to be provided to farmers engaged in intensive gardening

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Overdue loans of Armenian banks drop by 6% to 35.3 billion drams

01.12.2017 21:39

Overdue loans of Armenian banks drop by 6% to 35.3 billion drams

The overdue loans of Armenian banks as of October 2017 decreased by 6% from the previous month to 35.3 billion drams, according to numbers, released by the National Statistical Service (NSS)

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EFSD: Armenian growth is driven largely by exports

17.11.2017 17:42

EFSD: Armenian growth is driven largely by exports

The Eurasian Development Bank (EDB) commends Armenia for the positive effect from a set of reforms carried out by its government, Alisher Mirzoyev

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Kamurj joins government program on subsidized loans

09.11.2017 16:30

Kamurj joins government program on subsidized loans

The Kamurj credit organization has joined an Armenian government’s program designed to provide subsidized agricultural loans, the ministry of agriculture said

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Armenian citizens to be allowed to choose currency for repaying loans

25.10.2017 16:17

Armenian citizens to be allowed to choose currency for repaying loans

The Armenian National Assembly passed Wednesday at the second and final reading amendments to the law on residential mortgage lending

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Unibank offers mortgage loans without prepayment

04.10.2017 12:38

Unibank offers mortgage loans without prepayment

Unibank offers mortgage loans without prepayment at primary and secondary markets for acquisition of residential accommodation and premises for business, the press office of the bank reported on Wednesday

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