by Erik Abrahamyan
Anelik Bank has introduced a new business loan SIMPLE FAST for small and medium-sized enterprises (SME), the Bank's press-service told ArmInfo.
The Bank provides real estate-secured loans amounting up to $50,000 with 7 -year maturity period and under annual interest of 12%. The gold-secured loan maximum amount is $50,000, while the annual interest is 13%. The maximum amount of the loan under loan guarantee is $5000 with 3-year maturity period and 16% annual interest.
"The share of business loans in the loan portfolio of Anelik Bank has always been the biggest. Therefore, Anelik Bank has introduced a new type of loan SIMPLE FAST to promote SME. I am sure we have managed to create conditions favorable and acceptable to the local SME," says Karen Janinian, First Vice Chairman of Anelik Bank Board.
According to the Analysis and Financial Rating of Armenian Banks prepared by ArmInfo News Agency, Anelik Bank raised the portfolio of SME finance 36% for 2013 to 7.2 bln drams. The share of business loans in the bank's loan portfolio is almost 20%, which is mainly trade finance. The sole owner of Anelik Bank is Credit Bank S.A.L., Lebanon, since it increased its share from 89.95% to 100% in Q4 2013. The bank works with the affiliated system of international money transfers Anelik and with the systems MoneyGram and Intel Express. The bank serves 12 branches, including by 6 branches in Yerevan and in the regions.