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Health Ministry of Armenia says 14 citizens injured in recent developments in Yerevan still in hospital

Armenian Ombudsperson's Office representatives visit detained citizens

Azerbaijan targets positions in Talish village with grenade launchers

President of Journalists Club "Asbarez" Levon Barseghyan detained

Police of Armenia say almost of detained citizens set free

National Security Service of Armenia leaves open possibility of using force against "Daredevils of Sasoun"

Armenia's Police alarmed over bomb in Zvartnots International Airport

One of medical workers of Ambulance service released from seized building

One of leaders of Founding Parliament Alek Yenigomshyan detained

Arrest chosen as measure of restriction for Pavel Manukyan's son: Manukyan himself launched hunger strike

Leaders of "Founding Parliament" decide to hold protests on Liberty Square

Anti-Crisis group justifies its "mistakes" with intention to avoid bloodshed

Armenian police detaining all citizens passing by Khorenatsi Street near the seized building, foreign citizens among them

National Security Service of Armenia addresses members of Daredevils of Sasoun: The possibility still exists but the time is running out

Yenigomshyan believes in success of oppositionist movement

Representatives of Armenian Ombudsman's office visit Police department in Shengavit district and meet activist Levon Barseghyan

National Assembly of Armenia has not discussed demand to meet with delegation of parliamentarians laid down by "Daredevils of Sasoun"

US Embassy to Armenia calls for immediate release of medical personnel from seized building

"Daredevils of Sasoun" group presented details of last night's firefight: there was sabotage by Police

Yenigomshyan: Doctors are not hostages they are guarantee for satisfying conditions, laid down by Daredevils of Sasoun

Armenian Healthcare Ministry considers impossible fulfillment of armed group's demand on exchange of medical workers who were taken hostages

Yenigomshyan rings alarm: Levon Barseghyan missing since early morning

Economy Ministry of Armenia sees no reasons why Single European Sky is still close for Armenia

"Daredevils of Sasoun" provide details of overnight skirmish: Police resorted to sabotage

James Warlick: Yerevan and Baku agree to expand OSCE monitoring group in Karabakh conflict zone

Medical community of Armenia condemns "Daredevils of Sasoun" for taking 4 medical workers hostage

Police ban citizens from gathering in territory adjacent to seized Police Patrol Service Regiment building in Yerevan

Forecast: No prospects for NATO's expansion into South Caucasus

Armenian human rights defender verifying reports on mass detention of citizens

Armenian human rights defender verifying reports on mass detention of citizens

Two wounded members of armed group "Daredevils of Sasoun" sent to prison hospital

U.S. Embassy in Armenia once again issues a security message for U.S. citizens in Armenia urging them to avoid daily demonstrations

Azerbaijan's drones circling above Karabakh-Azerbaijani Line of Contact

Lives of wounded members of "Daredevils of Sasoun" Pavel Manukyan and his son in danger after past night's skirmish

Police reinforce its positions at Khoreatsi Street

Policemen's actions against Daredevils of Sasoun escalate situation even more

Armenian NSS warns that it has to take stricter actions for preventing new crimes by Daredevils of Sasoun

VTB Bank (Armenia) resumes service of transfers from card to card via Visa Direct system

Ombudsman presented his position and proposals related to events in Erebuni

View from Berlin: Establishment of Turkish bases in Azerbaijan testifies to Turkey's independent geopolitical game in Eurasia

Armenia's Police urge demonstrators to find another place to hold protests

German political analyst says Western forces may be behind orange revolutions and coup attempts in post- Soviet countries

Forecast: Eradication of ISIL and other organizations in Afghanistan, Iraq and Libya will result in spillover of war to Southern Europe, France and Germany

German political analyst: New gold war emerged, as Russia refused to accept Western model of development

Armenian Police: "Daredevils of Sasoun" have been provided with food

Alliance Party officially joins people's movement in support of "Daredevils of Sasoun" and their demands to Armenia's leadership

"Daredevils of Sasoun" group disclaims Police reports: Skirmish occurred in area of seized building not on neutral territory

Deputy Minister of Economy does not specify final date of Armenia-EU new framework agreement

Tigran Balayan: Armenia's leadership has repeatedly commented on normalization of relations with Turkey

Wounded members of "Daredevils of Sasoun" undergo surgery

Regional

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

  • by Gayane Isahakyan

  • Thursday, June 26, 22:38

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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