Newsfeed

Azerbaijan mounts another sabotage attack on Line of Contact, Armenian side has 1 victim and 2 wounded

Helsinki Citizens' Assembly Vanadzor Office urges Armenian Defense Ministry to look into military conscription of a kyphotic young man

Armenia suffers no losses during crossfire initiated by Azerbaijan on Armenian-Azeri border

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Armenia's former prime minister: The indicator of the economic growth in Armenia is extremely low for the first half of 2014

RPA: OSCE Minsk Group Co-Chairs’ latest statement was addressed to Azerbaijan

French citizen lost in Gegarkunik region of Armenia

RPA does not hurry to assess 100 day activity of Hovik Abrahamyan's government

Serzh Sargsyan sees no need in arming of population of border villages

Seyran Ohanyan: Armenia has been putting in place ‘engineering facilities’ along with other measures to prevent attempts by Azerbaijani sabotage groups to infiltrate into its territory

Charges brought against Levon Hayrapetyan

Azeri State Committee for Refugees: Issues of the return of Dilgam Asgarov and Shahbaz Guliyev and the transfer of Hasan Hasanov's dead body are under control of President Aliyev

Armenian Government tries to repay its debts by transferring state-owned enterprises' assets to a U.S. company

Armenian environmentalists comment on Red Book apes imported to Armenia

All U.S. citizens traveling to or residing in Armenia are strongly encouraged to enroll in the Department of State's Smart Traveler Enrollment Program

The ICRC has already started talks to return Azeri saboteur's corpse, Azerbaijani State Committee says

Stepan Safaryan: OSCE Minsk Group prefers stroking naughty Azerbaijan

Edward Nalbandian advises his Azerbaijani counterpart not to use international arena for propaganda

Political expert: OSCE Minsk Group Co-Chairs want to lobby the meeting between Presidents of Armenia and Azerbaijan

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

OSCE Minsk Group Co-Chairs express their serious concern about the increase in tensions and violence in Karabakh conflict zone

Heritage Party considers Volodya Avetisyan to be a political prisoner

Rostelecom expands its sales and customer service network

Arthur Grigoryan appointed commercial manager of mobile communication division at Beeline Armenia

Edward Nalbandian: Armenia wants to start a dialogue on abolishment of visa regime with EU

Edward Nalbandian: Unlike Azerbaijan, Armenia has been consistently proving its adherence to the principles of international law

No third tailing dump in Tukhmanuk

Edward Nalbandian: Turkey, which is striving to the EU, has shut down the border to the neighboring state, whereas a principle of free movement at the EU territory is one of the basic norms

Ali Hasanov: If international organizations can not resolve the conflict, let them step aside and the two neighboring states solve the problem themselves

Vladimir Dorokhin: None of the Azerbaijanis detained at the territory of Armenia are Russian citizens

"Mika cement" to replace owner

Deputy Prime Minister of Azerbaijan: The Azerbaijani people do not believe the OSCE Minsk Group

OSCE representative concerned about Armenia court decision forcing media outlets to disclose sources

The NKR Minister of Foreign Affairs received the Head of the ICRC Mission in Nagorno-Karabakh

Members of Karabakh parliament made a statement to protect Levon Hayrapetyan

"Vallex" Group celebrates Miner's Day

Commandos: Levon Hayrapetyan's arrest is a result of hard work of Azerbaijani and Russian secret services

Ivan Kukhta: The government of Ukraine owns irrefutable evidence of separatists' blame for the crash of the Malaysian Boeing

According to the results of the first half of 2014, growth rates of Ameriabank's indices exceed average market level

ACBA-CREDIT ACRICOLE BANK and American Express have announced the launch of new card "The ACBA-CREDIT AGRICOLE BANK American Express® Cash Back Card"

No visa regime between Georgia and Armenia

Vahagn Hovnanyan: It is necessary to hold a protest action in front Russia's Embassy in Armenia to support Levon Hayrapetyan

Political expert: Growth of tension at the border is a regular ill-fated expression of complexes by Azerbaijan

James Warlick: The number of incidents and resulting deaths and injuries is also a setback in our efforts to work with parties to find a lasting peace

Lake Sevan is on the verge of environmental disaster

Life of the three persons injured in Kashatagh as a result of a landmine explosion is out of danger

EU welcomes ruling of Turkish Constitutional Court regarding investigation into the 2007 murder of Turkish- Armenian journalist Hrant Dink

Armavir mayor's car explodes in mine-studded territory of Kashatagh

Newspaper: Armenian oligarch's company worked in the shadow

Nagorno-Karabakh Police publish details of the case of Azeri saboteurs

Regional

Georgian Parliament Speaker to Visit Israel

Jury to Pass Verdict on Accomplices to Georgian General's Murderer in Moscow

Municipal Transport Drivers to Hold Protest Rally Throughout Georgia

The National Press Day

Saakashvili's Party States it is Important to Conduct the Second Round of Elections till July 19

Historical Changes Have Occurred in Georgia - President

Israeli Minister of Agriculture is Paying Official Visit to Georgia

Power Restrictions Imposed in Tbilisi since June 23, 2014

Ramadan begins on June 29

Azerbaijan's democratic forces calling for the Association with the EU

Georgian MFA Responds to U.S. Embassy's Statement, Connected with Incidents during Election Campaign

Georgian Ambassador Demands Explanations from Turkish MFA

Georgian Citizens Abroad not to Participate in Local Elections

Georgian President Delegates Prime Minister to Sign Associated Agreement

Georgian Leadership Welcomes Presidential Elections in Ukraine

We do not Need Saakashvili's Type Mediators in our Relations with Ukraine - Lavrov

Caucasian Muslims Department (CMD) opens an office in Iran, next will be Saudi Arabia

Poroshenko States he Has not Offered Georgian Ex-President Mikheil Saakashvili Adviser's Post

Russia not to Punish Georgia for Signing Associated Agreement with EU-Kosachev

James Appathurai Writes about Georgia in his Page in Facebook

Blogger Abdul Abilov sentenced to five and a half years

Vugar Aliyev committed to strengthening the responsibility of Internet resources

Civil society urges Aliyev to defend democracy

ACBA-Credit Agricole Bank launches ACBA Business Partner Loan+ service for legal entities

  • by Gayane Isahakyan

  • Thursday, June 26, 17:38

ACBA-Credit Agricole Bank has launched an ACBA Business Partner Loan+ service. The press service of the Bank has told ArmInfo that this service is for the legal entities, which have business loans in other banks and credit companies but at the same time need new funds without spending additional time.

 

The source says that the new product has the following key advantages: the Bank conducts no financial or economic analysis of the enterprise to make a decision to issue a loan; the Bank makes the decision to issue the loan within an hour after the application is submitted; in case of the annuity method of loan repayment, the Bank provides the borrower with extra loan funds; the issue of the loan needs minimum documents; the borrowers are not required to spend money on property appraisal and insurance. The Loan+ is provided for 12-72 months at an interest rate starting from 8% p.a. The loan is provided in AMD, USD and EUR. In case of a collateral, the maximum amount of the loan is 14 mln AMD, $35 thsd or 28 thsd EUR.  The maximum amount of an unsecured loan is 3 mln AMD, $7.5 thsd or 6 thsd EUR. The legal entities, which apply to ACBA-Credit Agricole Bank before 10 August 2014 and open a current account at the Bank, will get an opportunity to make use of the ACBA ON-LINE system free of charge for a year, to receive a free Visa Business Card and to use it without paying any fee for the card servicing for a year; to receive an additional free Visa Business card; to receive a loan or a credit line for import/export stimulation at 8.99% p.a.

 

To note, two more banks offer a similar product in the market of financial services, namely, Ameriabank and INECOBANK, however, they provide it to SME borrowers only, unlike ACBA-Credit Agricole Bank.  Ameriabank does it within the frames of the Boomerang campaign, and INECOBANK - within the frames of the Easy Loans campaign.

 

According to the data of the Financial Rating of Armenian Banks prepared by ArmInfo, by the results of the 1Q 2014, ACBA-Credit Agricole Bank was the second at the banking market of Armenia by the size of credit portfolio. It increased the given indicator by 7,5% versus  1Q 2013 - up to 191.5 billion AMD. In general, the bank directed 70.8 billion AMD credits in the economy or 37% out of the credit portfolio of the bank. As of 1 April 2014, the total capital of ACBA-Credit Agricole amounted to 53 billion AMD, by 4,5% more versus 1 April 2013. The bank is the leader on this position. As for the assets, the bank is in the TOP-5. It ensured growth by 4,6% - up to 264,6 billion AMD. According to the results of 2013, net profit of the bank amounted to 5.1 billion AMD, by 24,4% versus 2012.

 

To recall, "ACBA-CREDIT AGRICOLE BANK" CJSC was founded in 1996 within the framework of the European Union’s TACIS program by the model of European cooperative banks. Initially, activity of the bank was targeted to financing rural economies of Armenia. Since 1999 the bank has started providing loans to small and medium enterprises, since 2001 - consumer loans and since 2003 - education loans.

 

At present the bank provides varied universal banking services:  opening and service of banking accounts, funds transfer, issuance of personal check books, currency exchange, issuance of bank guarantees, documentary credits, trade, agricultural, collateral, mortgage, consumer loans, as well as loans for education, repairs and heating, issuance and service of VISA international plastic cards and domestic ArCA, reception of household running costs, system management via ACBA ON-Line. In September 2006 the French Credit Agricole Banking Group purchased 28% shares of the Agricultural Cooperative Bank of Armenia [ACBA Bank], and the ACBA Bank was renamed to ACBA Credit Agricole Bank. The bank has 50 branches (including the Head office):  12 - in Yerevan, the rest in the 10 marzes of Armenia. 

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields