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Regional

Anelik Bank extends the range of Simple-Fast loans

  • by Siranush Manucharyan

  • Friday, September 5, 19:14

 Anelik Bank is extending the range of its Simple- Fast loans. This time the Bank is launching a Simple-Fast Progress loan. The press service of Anelik Bank has told ArmInfo that the loan is provided in terms of USD for up to 5 years. The maximum amount is $2000, and the interest rate ranges from 5% to 16.3% p.a.

The advantage of this loan is that no income certificate is required. To recall, on August 26 Anelik Bank launched the Simple-Fast Extra, which requires no income certificate either. The maximum amount of the loan is 1400 USD, and the interest rate is 16.8% p.a.     

"Anelik Bank creates new products on the basis of the customers' demands. The advantage of the given product is its comparatively high threshold and the long period of redemption. If the customers are going to acquire household appliances or furniture or to travel or repair their flats, this loan, which is provided in a facilitated procedure, will be very handy", says Vardan Gevorgyan, Deputy Chairman of the Board, Retail Director at Anelik Bank.    

The source says that Anelik Bank will continue its efforts to boost consumer lending, which will allow increasing the retail lending portfolio by 46.2% by late 2014. 

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. 

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