Newsfeed

Arrestee over attempt of terror attack on Armenian-Russian gas pipeline confesses

Armenian Foreign Ministry verifying if there were citizens of Armenia among those feared killed in earthquake in Italy

Holders of MasterCard and Maestro are offered new way of receiving money transfers from Russia-via Odnoklassniki network

ANC: Congress did not support Sasna Tsrer, as the situation posed threat to statehood

On Sep 1 Beeline (Armenia) will announce about launch of CDMA network ensuring access to high-speed internet in all regions of the country

Court of Appeal leaves unchanged measure of restrain against Aram Manukyan, Sasna Tsrer group member

Diaspora Ministry receives 162 Armenians from Diaspora under "Ari Tun" project

Trial over attempt of terror attack on Russia-Armenia gas pipeline scheduled for October 10

Russian soldier Valery Permyakov sentenced to life imprisonment for murdering family of 7 persons in Armenia's Gyumri

Larisa Alaverdyan: Armenian side should forget about territorial concessions

Court leaves measure of restraint against activist Garegin Chugaszyan unchanged

Armenia takes 42nd place at RIO-2016

ACBA-Credit Agricole Bank launched GREEN lending within loan agreement with Central Bank under KfW "Energy Efficiency Program for SME"

Larisa Alaverdyan: Iran should participate in Karabakh settlement

Russian expert: The West does not want to perceive Russia as enemy and does not need confrontation

Terror attack on Russia-Armenia gas pipeline prevented in Georgia: Detainees are accused of having links to terrorist organization

Court of Appeal leaves unchanged measure of restraint against Toros Torosyan

Forecast: Withdrawal of any of the member countries may lead to dissolution of NATO

View from Moscow: Relations with Turkic world are not fundamental problem for Russia

Arayik Khandoyan to run for local elections in Tsakhkahovit, relevant documents submitted to CEC

Levon Yeranosyan urgently recalled from vacation leave

Armed Forces of Azerbaijan used "Utyos" large caliber machinegun

VTB Bank (Armenia) launches "Finding oneself in movie world is priceless" promo campaign for its MasterCard holders

Amulsar project groundbreaking event took place in Armenia

Regional

EBRD to lend USD 10 million to ArmSwissBank for on-lending to SMEs and energy efficient projects

  • by Gayane Isahakyan

  • Tuesday, July 8, 02:41

The European Bank for Reconstruction and Development (EBRD) will lend USD 10 million to ArmSwissBank for on-lending to small and medium enterprises and energy efficient projects, Gevorg Machanyan, CEO and Chairman of Directorate of ArmSwissBank CJSC, told journalists on July 7. 

 

Machanyan said that part of the loan (USD 5 million) will be spent on SME finance. The remaining USD 5 million will be spent on financing the enterprises investing in energy efficiency projects, including introduction of energy-efficiency technologies and equipment. "These enterprises will enjoy a grant element. We will make the details public in the near future", he said. Machanyan pointed out that the new agreement is to be signed in September 2014.    

 

Throughout the period of its activity, the Bank has financed a total of 38 small-scale hydropower plants both at the expense of the German KfW Development Bank and at its own expense.   

 

ArmSwissBank has been cooperating with the EBRD under the Trade Facilitation Programme (TFP) since 2010. At the moment, the EBRD and ArmSwissBank are cooperating under trade facilitation and SME finance programmes. ArmSwissBank will shortly become a participant in the energy efficiency development programme as well. 

 

To note, ArmSwissBank CJSC was founded on 7 October 2004. The founder and CEO of "Franck Muller Watchland" Company, Vardan Sirmakes is the owner of 11670 (80 %) ordinary shares of "ARMSWISSBANK" CJSC. 2918 (20%) ordinary shares of the Bank belong to "Belegingsmachepij Jongo" LLC.

 

The Bank specializes in corporate banking, investment banking and private banking. As of 1 July 2014, the assets of ArmSwissBank amounted to 72.3 bln AMD (24% year-over-year growth). The Bank's authorized capital increased by 44% to 10.1 bln AMD, and the total capital rose by 56% to 21 bln AMD. Over the same period, the Bank's loan book grew by 11% to 30.1 bln AMD, and portfolio of securities increased by 70% to 32.3 bln AMD. In the first half of 2014, the Bank's profit totaled 1.2 bln AMD (67% year-over-year growth). The Bank's ROA made up 3.38% versus 3.18% in the first half of 2013, and ROE made up 13.61% versus 13.84% in the first half of 2013. 

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