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Cemil Cicek: there are those trying to deceive the world by leading them to believe that Turkey committed genocide in 1915

Former foreign minister of Armenia international statements on incident with Armenian helicopter contained as never harsh criticism of Azerbaijan

Alexander Krylov: Problems in Russia’s relations with Untied States and EU in favor of global caliphate

Expert: An "open sky" policy was imposed on Armenia by the IMF and WB

Prime Minister of Armenia: Sudden devaluation of the Armenian dram will have an adverse effect on people's well-being, but positive effect on exporters

Azerbaijan involves Ukrainian journalists - the authors of the TV programme about Karabakh in the black list

Newspaper: ARF Dashnaktsutyun Party suffering from infighting

Hovik Abrahamyan: Government of Armenia is determined to conduct a policy of constructive engagement with the opposition

Cars of four oppositionists burnt in Yerevan

Shenik community kindergarten renovated with support of Beeline and COAF

Seyran Ohanyan: Baku should pay for its provocations

Yerevan has been negotiating with Russia on opening of a separate terminal for the cargo companies of Armenia at "Verkhniy Lars" check point

Jirayr Sefilyan: The reason of Baku's impudence is unwillingness of the Armenian parties to start the war

VivaCell-MTS implemented the November draw "365"

UNESCO puts an end to the arguments between Armenia and its neighboring states around lavash.

Armenian Parliament Commission for Economic Affairs endorses agreement of Armenia's accession to EEU

Gagik Minasyan: International community's no-address statements on Mi-24 helicopter incident will have serious consequences

Local producers in Armenia face problems as purchasing power in Russia falls and the Russian ruble depreciates

Orange Kino service now available as well in Cinema Star

Human rights defender: "Armenia shouldn't rush into responding to Azerbaijan "

Yerevan: The sooner Baku realizes impossibility of military resolution of Karabakh conflict, the faster the talks will lead to its final resolution

Human rights defender: Azerbaijan is colony of British Petroleum

Snow blocks Sotk-Karvachar road

Magnitude 2.6 earthquake hits Armenia

Central Bank of Armenia sees no serious inflation risks with changing national currency rate

Artsakh Defense Minister: Official investigation will give answers to all questions about downing of Armenian helicopter by Azerbaijan

Views from Moscow: Russian-Abkhazian treaty shot down project of railway to Armenia via Abkhazia and Georgia

Russian expert: Small countries should be maximally neutral in the cold war between the West and Russia

Russian expert: Project of unblocking of Armenia still has all chances to succeed

Russian expert: Format of military-political and economic union with Russia is convenient for ensuring Armenia's multi-level security

Beeline launches NON-STOP service

Russian expert: The US pressure upon Tbilisi hinders opening of the railway to Armenia

Elbat CJSC is planning to increase output by 30% in 2014

Beeline announces some changes in a number of mobile tariff plans

More than 21'000 people have visited www.orange5.am website and more than 4'100 shared their ideas for future

Putin stresses the need to open Abkhaz railway section

Experts: Sharp growth in USD exchange rate in Armenia is of adjusting nature

Taner Akcam sees connection between Genocide in Turkey 100 years ago and similar acts today committed by contemporary Islamist terrorists in Syria and Iraq

Expert: Turkey may ratify one of the Zurich Protocols in 2015

Zdzislaw Raczynski: The Association Agreement with EU would open more opportunities for Armenia

Defense Ministry: Military Honors Funeral to pilots of downed Mi-24 helicopter scheduled for 24 November

Armenia's deputy minister of defense informs Ambassador Kasprzyk of details of latest special operation to recover bodies of Mi-24 helicopter crew

Zdzislaw Raczynski says Poland remains committed to its principles in NK problem, that is, not to arm conflicting parties

System of a Down to perform in Yerevan in 2015

Fundamentally, Armenia may be pro-Russian but it does not mean that it may be pro-Putin, Richard Giragosian says

Ex-defense minister of Armenia: NKR Defense Army brilliantly conducted a risky special operation

Seyran Ohanyan: Parts of Armenian helicopter downed by Azerbaijan to be submitted for examination

Armenia confirms it will participate in Baku 2015 European Games, Patrick Hickey says

OSCE Minsk Group Co-Chairs' Nov 19 statement changed due to Azerbaijan's hysteria

Armenian Defense Ministry hints at big losses in Azerbaijani army due to special operation of NKR Special Forces

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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