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Matthew Bryza suggests excluding OSCE Minsk Group from Karabakh peace process

MP: Prosperous Armenia feels free to demand government dissolution, if necessary

"Heritage": further strategy of non-government three to be determined at the beginning of February

Uruguayan President: Let's not forget about unrecognized Armenian Genocide

Nikolay Bordyuzha: CSTO cannot give military response to escalation of tension along contact line of Azerbaijani-Armenian troops

Expert: Israel's policy on Armenian Genocide will not change

Armenian policeman accused of robbing houses of Iranians living in Yerevan

Analyst: It is the military-political balance rather than the Russian base that defends Armenia against Turkey

Government of Armenia says they have fulfilled all the demands of salespersons, but they continue to rally

Armenian expert: The key reason why the Armenian authorities are behaving like ostriches is that their boss is going to leave them

Parliamentary opposition suggests convoking special parliamentary session on turnover tax law

Prime Minister: Armenia is preparing to resist global economic war

VimpelCom Ltd., announces the launch of its "Make Your Mark" initiative

Fatih Akin's "The Cut" to be screened in Armenia and Russia starting from Feb 19

Expert: Turkey will try to make up a format for its participation in events to be organized by Armenia to commemorate 100th year of Armenian Genocide

Political expert: 2015 will see no breakthrough in Nagorno-Karabakh peace process

Armenian expert: Permyakov case will be used as pretext for planned withdrawal of 102nd Russian military base from Armenia

Expert: Growing tension in the Karabakh conflict zone bears no relation to upcoming centennial of the Armenian Genocide

France-Artsakh Friendship Circle supports OSCE Minsk Group's charges against Azerbaijan

James Warlick: "The reported use of 'drones' above or across the Nagorno-#Karabakh line of contact is a provocation"

One more concert on sidelines of Edgar Oganesyan-Fest in Yerevan

Criminal case opened over death of soldier in Yerevan

President of Turkey calls for opening archives and submitting Genocide issue to historians

The Pan-Armenian Declaration On The 100th Anniversary Of The Armenian Genocide Promulgated

New appointments at VTB Bank (Armenia)

Armenian President: Denial of Armenian Genocide turns present-day Turkish authorities into accomplices to the crime committed by Young Turks

President Serzh Sargsyan attends opening of Komitas Museum-Institute

Spokesman of Armenian DM: I will not be surprised if tomorrow Azerbaijan destroys an Armenian intercontinental ballistic missile

Action of protest held in front of OSCE Office in Yerevan

Tension on Line of Contact is unlikely to develop into large-scale military operations, Azeri expert says

Well-known actor Vardan Petrosyan sentenced to 5 years in jail

Armenian Defense Ministry: Two Armenian servicemen wounded as a result of Azeri sabotage attack

Small business representatives heading towards president's residence protesting against Law on Turnover Tax

Azeri raiders convicted in Artsakh apply to Court of Appeal

Gevork Kostanyan: Armenian people had to protect their own history against distortion at ECHR

Haaretz: President of Israel touches upon Armenian Genocide

Francois Hollande calls on Turkey to dispel stereotypes and recognize Genocide of Armenians

Armenian armed forces rebuff a new Azeri sabotage attack on the border in Tavush region

Armenian delegation to PACE voices issue of Armenian Genocide in Ottoman Turkey

Small HPPs constructed on rivers to get green passports

Verdict on "Perincek vs. Switzerland" case will be announced within 6-8 months

Official Stepanakert thinks extradition of Dilham Askerov may not be debated

OSCE Minsk Group co-chairs voice their concern over growing tensions in Karabakh conflict zone

Eduard Sharmazanov: "OSCE MG's latest statement was unprecedented, as the mediators took Baku down a peg for the first time ever "

President of Armenia: "Artsakh's right to live in freedom is undisputable"

Artsvik Minasyan: Any integration is senseless for unreformed economy of Armenia

Armenia's Energy Ministry plans to sell part of Nairit Plant's assets

Armenian Defense Minister: Transfer of Valery Permyakov to Armenian law-enforcers was not discussed at the meeting with Arkady Bakhin

Expert: Armenian law-enforcers are not involved in Permyakov case investigation to full extent

British Film Festival 13th Love Edition to kick off in Yerevan on Feb 14

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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