Newsfeed

Minister promises fair and mutually acceptable decision on the law "On temporary incapacity for work"

Naira Zohrabyan suggests inquiring into financial frauds by wife of ex Finance Minister

New opposition four to start drawing out alterations to Electoral Code

Newspaper: New scandal brewing around funded pension in Armenia

Brazilian Film 'Boy and the World' animated film - winner of Armenian Animation Festival ReAnimania

Galust Sahakyan: EEU is an effective platform for resolving of many problems against the background of global economic crisis and political tension

Mobile Radio available for Beeline subscribers

Yerevan: Issue of the sale of Russian military hardware to Azerbaijan is always on agenda of Armenian- Russian relations

Political expert: Ukrainian crisis is re-occurrence of conflicts of early 1990s and 08.08.08 war

View from Yerevan: Ukraine and its two regions are like a suitcase without a handle

Armenia's Deputy FM: As long as Azerbaijan continues to be non-constructive, there will be no progress in Nagorno- Karabakh peace talks

Till Dec 31 2014 Ameriabank will offer 1% bonus for mortgage loan transferred from another bank

AmCham elects Tigran Jrbashyan as its President

Owner of Old Erivan Holding: From moral point of view, my letter to the President is the last step in my fight against Unibank

Expert: Oligarchs and corruption are an even bigger threat for Armenia's national security than Turkey and Azerbaijan combined

Gevorg Kostanyan: The Shant Harutyunyan case is not politically charged

ProCredit Bank reopens renovated Artashat branch

Sharmazanov: In today's interview Gagik Tsarukyan repeated its speech at Oct 24 rally but in an easily defined form

Nikolay Ryzhkov: Nagorno-Karabakh may join EAEU after its final status is determined

Prices for meat products may grow in Armenia

Ardshininvestbank reopens its new and reconstructed Shengavit Branch

Prosperous Armenia Party has not yet determined its position regarding Armenia's joining Eurasian Economic Union

Elmar Mammadyarov: Azerbaijan is ready to start the work on the project of a great peace treaty

Azerbaijani diversionists blame their liquidated comrade Hasan Hasanov for murdering Karabakh civilian

Armen Gevorgyan appointed Head of IDeA Foundation

ArmSwissbank and Management Mix intend to set up an investment management company

Winners of "Open Game 2014" Championship of Computer and Mobile Games already announced

Ameriabank confidently strengthens its leading positions

VivaCell-MTS provides a diesel generator set to Ministry of Emergency Situations for uninterrupted operation of backup server

New garbage dump to be opened in Yerevan

The UK would not like Simferopol-Yerevan flights to be launched

Beeline and Edward Mirzoyan String Quartet announce extension of their cooperation.

Air Armenia suspends passenger operations

Head of Armenian CEC unaware of opposition's plans to organize snap parliamentary elections

Armenia's deputy finance minister does not rule out growth of prices after Armenia's joining Eurasian Economic Union

British and German Ambassadors hope Ankara will make a step towards normalization of relations with Armenia in future

David Harutyunyan: Bi polar political system is being formed in Armenia

Ukraine's Ambassador refutes reports on opening of Yerevan-Simferopol flight

Washington not commenting on Azerbaijani saboteurs' trial

Newspaper: Armenian National Congress and Heritage Party fail to persuade Leader of Prosperous Armenia Party to launch sit-down strike in Liberty Square

Edward Nalbandian says Sargsyan-Aliyev meeting in Paris was a step towards rapprochement of the two countries' positions

Analyst: There are no idiots in Russia today

Handset, tablet and internet modem repair and service center is now available in the Orange Flagship store

"Beeline Child Development Centers" opened in Ararat region of Armenia

Monitoring Report on the Agreement between EU and Armenia on Facilitation of Issuance of Visas presented in Yerevan

VivaCell-MTS implements the 6th draw "365"

Eduard Sharmazanov: It is impossible to speak of compromises if Baku rattles the sabre

Ivan Kukhta: 70% of citizens of Ukraine in Armenia supported the course of the president and government of Ukraine

Special Investigation Service of Armenia initiates criminal case regarding incident that occurred to ASALA veteran

Results of Sargsyan-Aliyev Paris meeting summed up

Exclusive

Ashot Manucharyan: It is very much dangerous and senseless to lead Russia to war readiness

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

Alexander Iskandaryan: Peace and war are the two things Russia does not need in the South Caucasus

Ariel Cohen: Putin may be compensating for reputational damage to Russia in the conflict in Ukraine by trying to resolve the Karabakh conflict

Hovhannes Igityan: Serzh Sargsyan’s geopolitical choice is an obstacle for investments in Armenia’s economy

Andrey Areshev: Russia wants to see Armenia as its strong and dynamically developing ally in the South Caucasus

Vahan Vardapetyan: October 10 will become the day of culmination of consolidation of the society around the Armenian centrist parties

Manvel Sargsyan: The myth of Russia's importance for Armenia is based on the formula "We will defend you"

Thomas De Waal: The society and power in Armenia and Azerbaijan are strongly linked by a vicious circle

Ukraine’s Ambassador to Armenia: The next phase of development of the Ukraine-EU relations may be only Ukraine's EU membership

Hakob Andreasyan: Current reforms are as important as those conducted in privatization period

Hakob Andreasyan: We try to ring-fence farmers from untypical risks

Giorgi Gvimradze: Russia's fate hangs in the balance in Ukraine

In NK peace, it is necessary to pay attention to other processes in Scotland and Catalonia

Armenia’s ex Defense Minister: We have enough options to advance to the north of Azerbaijan

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