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Eduard Sharmazanov: Ter-Petrosyan's stories were the most juicy part of the Friday opposition rally

Russian Ambassador: Armenia's accession to Eurasian Economic Union was a wise strategic decision

Armenian Foreign Minster says Baku seeks to fail the Karabakh negotiations with its efforts to change their format

Exposition of "Open Game" Championship of Computer and Mobile Games to take place on the 26th of October

French parliamentarian Valerie Boyer introduces new bill criminalizing genocide denial

Beeline and Cafesjian Center for the Arts launch two free of charge education programs

In Jan-Sept 2014 Areximbank-Gazprombank Group registered 63% growth in foreign exchange transfers through SWIFT

Levon Ter-Petrosyan: In Eurasian Economic Union Armenia will not be less sovereign than Russia, Kazakhstan or Belarus

Gagik Tsarukyan says his Party may demand power change

Levon Ter-Petrosyan: Armenia is experiencing a strong wave that seeks change of power and has all chances to succeed

Opposition four parties marching along Yerevan streets

Raffi Hovannisian: There will be a legal revolution in Armenia

Aram Manukyan: Armenian people seeks to govern the country

Expert: Only Azerbaijan gains from Serzh Sargsyan's policy

Vartan Oskanian: The system can be broken only through a power change

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

RPA member: The opposition three is unpredictable

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

Sargsyan-Aliyev-Hollande meeting to take place on 27 October

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

Edward Sharmazanov: The breakthrough in the Karabakh process depends on the position of Baku

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

Parliament member: A draft law has been submitted to the parliament that has nothing in common with residents of the bordering communities

Expert: Deposits with radioactive elements in a scattered state are being developed in Armenia

Parliamentarian: On 2 Jan 2015, Armenia will find itself in quite new economic environment, something that Government is absolutely not ready for

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

Environmentalists to protest against shooting of wolves

Armenian MP: Armenia has crossed the red line of economic security

"Grozniy-Avia" airline to launch Simferopol-Yerevan flight

Beeline launches "Unlimited Internet Super" service

ACBA-CREDIT AGRICOLE BANK opens new branch in Yerevan

Tigran Khzmalyan: Armenia has linked its Noah's Arc to Russia's sinking Titanik that is still selling tickets

Irina Kamkhadze: We see no downward tendency of Visa growth rates in Armenian market

VTB Bank (Armenia) Visa cardholder becomes winner of Summer with VTB campaign and gets a vacation package to Malta for two persons

Delegation of IFC and EBRD visits Amulsar Gold Project site

Oppositionist: The case with ASALA veteran demonstrates state terrorism in Armenia

Armenia's Health Care Ministry organizes a training course to assess local doctors' readiness for Ebola

Naira Zohrabyan: There is no sector in Armenia where human rights are not breached

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

Gabor Brodi: Armenia must not choose between European Union and its neighbors in the region

A delegation of South Caucasus Railway to attend 61st meeting of CIS Rail Transport Council in Baku

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. 

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