by Erik Abrahamyan
Areximbank-Gasprombank Group intends to activate consumer crediting in 2014 even more and increase it in the total retail portfolio up to 17,6 billion AMD, press-service of the bank reported.
Armenian banks started considering consumer lending diversification as a tool for risk reduction and profits, which, in turn, boosted the competition and formed a demand for new banking products and offers, said Gevorg Petrosyan, head of crediting and investments at Areximbank-Gazprombank Group.
Today banks do not differ very much in their consumer lending products and compete mainly in loan terms, lending process automation and shortening of the list of required documents, Petrosyan said. Areximbank as well is improving the terms and is trying to make the procedure as simple as possible, he said.
By the end of 2014, the bank is going to provide the growth of the credit portfolio up to 98 billion AMD. According to the results of 2013, the credit and other loans delivered to clients amounted to about 92 billion AMD.