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NASDAQ OMX Armenia provides ArmSwissBank with a status of market maker of National Mortgage Company's bonds

Chief of Russia's Federal Customs Service: Russia is not going to interfere in customs activities on Armenian-Nagorno-Karabakh border

Sharmazanov: Nobody, even if he wants very much, can name at least one fact which is evidence of incapability of the Armenian authorities

Oppositionist: Opposition's task during its rallies is to make best of people's resolution to change ruling regime

A member of the parliament from ARFD wishes success to the opposition three

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VivaCell-MTS has invested 55 million AMD for the housing project in the borderland villages of Armenia and Fuller Center for Housing Armenia has undertaken the implementation of the project

Head of Russian Federal Customs Service: Russia does not intend to interfere in customs officers' activities on border between Armenia and Karabakh

Serzh Sargsyan's message to Washington: We believe that the whole of mankind should be consistent in the recognition, condemnation and exclusion of denialism of genocides

CJSC Armenian Copper Programme reduces blister copper production 9,8% for nine months of 2014

Ex-governor of Vayots Dzor, Edgar Ghazaryan - an ambassador to Poland

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Serzh Sargsyan: Germany is Armenia's vital partner and a friendly country

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OSCE MG Co-chairs share expectations from upcoming meeting of Azerbaijani and Armenian Presidents in Paris

Former premier of Armenia calls on the government to change methodology of GDP calculation

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Governor of Armenia's Vayots Dzor Region relieved of his duties upon his own request

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Speaker of the Armenian parliament agrees to the idea that there are numerous unsettled conceptual problems in the republic

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Social Democratic (Hnchakyan) Party (SDHP) urges Armenia's leadership to inform the world community of Ankara's intention to seize Kessab

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Eduard Sharmazanov: Fairy-tales of the Turkish authorities about the Armenian genocide are simply funny

Between October 25-31 the 6th edition of ReAnimania to be held in Yerevan

Opposition MP Nikol Pashinyan urges Armenian Parliament to define concept of political prisoner

Armenian National Congress to do its best to free Shant Harutyunyan and his friends

Ameriabank challenges credit surveillance stereotypes by launching a "Non-Cash Freedom" card campaign

  • by Gayane Isahakyan

  • Wednesday, July 2, 20:23

Ameriabank has launched a "Non-Cash Freedom" card campaign for the period of summer vacations. The campaign offers the customers a line of credit for their vacations and emergency expenditure. Mr. Tigran Jrbashyan, Development Director at Ameriabank, said at today's press conference that the lines of credit will be provided on the basis of assessment of the borrowers' non-cash expenses and their consumption behavior. No proof of income or statement of employment is required. 

"The assessment of the customers' non-cash expenses will allow the Bank to occupy a new niche among the card products, because the new loan product challenges the stereotype of the borrowers' credit surveillance by their income", said Jrbashyan. 

He believes that the main problem the customers come across when applying for a loan is the assessment of their credit surveillance by their income. "We are changing this approach and switch to assessment of the customers' expenses and their consumption behavior, since we think that expenses characterize the customers' borrowing capacity more precisely. It is especially convenient in Armenia, where not always and not all incomes are completely registered and not all income sources are known", added Jrbashyan. He also pointed out that the service is available for the customers of both Ameriabank and other Armenian banks. "The Bank is ready to analyze the non-cash payments of the potential customers, as it has the relevant analytical tools", he said. 

For his part, Mr. Arman Barseghyan, Retail Banking Director at Ameriabank, said that the line of credit ranges from 150 thsd to 1.5 mln AMD depending on the amount of the cardholders' non-cash transactions executed over the past 6 months. The loan amount will be 6 times as much as the amount of the non-cash payments if a cardholder has no credit history or if his/her overdue time period has not exceeded 30 days over the past 2 years. The loan amount will be 8 times as much as the amount of non-cash payments in case the borrower's overdue time period has not exceeded 10 days over the loan redemption period. If the borrower has a credit history and lacks overdue loans over the specified period, he/she can be provided with a loan worth 10 times as much as the non-cash transactions. The line of credit is provided to the cardholders whose average monthly non-cash turnover through Ameriabank's service network has been 80 thsd AMD and more over the past 6 months. The offer is in force from July 2 till September 30. "No service fee will be levied until the yearend of 2014", said Barseghyan. 

According to the Analytical Review "Armenian Banks in Card Business" prepared by the Agency of Rating Marketing Information (ArmInfo), Ameriabank is among the top 10 by the number of its active cards (over 55 thsd cards as of 1 April 2014, with almost 40% year-over-year growth). The Bank is also among the top 10 by the amount of its plastic transactions (nearly 78 bln in 2013). Ameriabank holds the third position by the number of its own POS terminals (651) and is among the top 5 by the number of its ATMs (98). Along with local ArCa cards, the Bank issues and services international VISA and MasterCards.
Ameriabank CJSC  is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. The sole shareholder of the Bank is Ameria Group CY Ltd. 

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