by Erik Abrahamyan
On August 26 Anelik Bank launched a new card credit product - Simple-Fast Extra. The press service of Anelik Bank has told ArmInfo that the loan is provided in US dollars only. The maximum amount of the loan is 1400 USD, the interest rate is 16.8% p.a. and the redemption period is 60 months. No income certificate is required.
"Anelik Bank is committed to its strategy aimed at providing its customers with loans on simpler and more convenient terms. The peculiarity of the new credit product is the low interest rate and the facilitated procedure", says Vardan Gevorgyan, Deputy Chairman of the Board, Retail Director at Anelik Bank.
Further information is available at http://www.anelik.am/.
According to the Financial Rating of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo), due to active introduction of a number of retail credit products, Anelik Bank demonstrated the highest growth rates in the banking market in terms of consumer lending in particular and retail lending in general. In the first half of 2014 the Bank increased the consumer lending by 35% and the retail lending by 40%. In Q2 2014 the Bank increased the consumer lending by 19% and retail lending by 21% (48.5% and 53.3% year over year growth, respectively). By 1 July 2014, the consumer lending portfolio of Anelik Bank amounted to 19.3 bln AMD and secured the Bank's position among the Top-10 banks.
To note, the sole owner of Anelik Bank is Credit Bank S.A.L. (Lebanon), which increased its stake from 89.95% to 100% in Q4 2013.