Newsfeed

Nikol Pashinyan Tore to Bits SCPEC Armenia's Head

Armenian Assembly of America urges US Subcommittee to allocate $40 million in assistance to Armenia

Orange Contributing to the Project "Bringing Sight to Armenian Eyes"

Defense Ministry of Armenia sets up special organization to manage Karen Demirchyan Sports and Concert Facility

Beeline Announces "Information Technologies in my Life" Contest

SCR offers preferential fares for electric trains in April

Zhirair Sefilian: the "Founding Parliament" to Start 24/7 Tea Parties since April 24

Washington Forecast: USA Paying More Attention to Baku as a versus to Armenian-Russian Axis

Seyran Ohanyan: Russia assists Armenia globally

Tigran Urikhanyan leaves Prosperous Armenia Party

VTB Armenia Mortgage Portfolio to Increase by 10-20% in 2015

Baku blacklists journalists for attending medias forum in Yerevan

Defense Minister of Armenia says reasons why Armenian soldier crossed border into Azerbaijan must be sought in his family

Azerbaijan uses mortars on Line of Contact

Armenian soldier dies from heavy wounds received when repelling adversary

Traian Hristea: Metsamor NPP Prescheduled Shut-Down is the EU Main Purpose

Defence Minister: the Situation on the Front Line is Under Control of Armenian Armed Forces

In 2014 VTB Armenia Strengthened its Positions in Retail Business

VTB Armenia Bank Investments in Branch Network Modernization Exceeding 5 Million USD

Official: State Commission keeps an eye on large economic entities

Official: "ENA" CJSC quits discrimination against consumers

Raffi Hovannisian: Meeting of Armen Martirosyan and Rubik Hakobyan with Serzh Sargsyan does not run contrary to Heritage Party's stand

South Caucasus Railway: Efficiency of investments in railway infrastructure of Armenia evident

Magnitude 3.7 quake hits north of Armenia

British parliamentarian demands Government to recognize Genocide of Armenians

Valery Gergiev's concert in Yerevan postponed

Beeline supports screening of "Komitas: Crane of Melancholy" film-performance

Parliament Vice-Speaker Harshly Criticizing Levon Ter-Petrosyan's Speech on the Centennial of the Genocide

ACBA-CREDIT AGRICOLE BANK: new capacities on a new website

Ishkhan Mkhitaryan: Armenian Card ready for technological leap in credit card market

Ministry of Defence Armenia: The Karabakh Conflict Zone Situation is Tensed, but Under Control

Inspections Performed in Akhtala Ore Mining Plant

Former employees of Nairit Plant demand their wages again

Armenian Foreign Ministry tries to find out if there were Armenian citizens of board the crashed Airbus A320

Levon Ter-Petrosyan introduces his own option of All Armenian Declaration on 100th Anniversary of Armenian Genocide

Ukrainian political expert: Poroshenko due to abandon idea of Ukraine's liberation

National Assembly of Armenia passes draft resolution condemning Genocide against Greeks and Assyrians

Heidi Hautala: If Turkey recognizes Armenian Genocide, it will open doors for peaceful settlement of Karabakh conflict

Cyprus Parliament drafts bill criminalizing Armenian Genocide denial

Commandos: Tension in Karabakh conflict zone will continue till April 24

Views from Kiev: Kremlin passes on to a new phase of fundamental tragedy

Political expert: Uncertainty in Armenia-EU relations overcome

Belarus disclaims rumors about arms sale to Azerbaijan

Ambassador: Czech Republic will be represented at Armenian Genocide Centennial commemorations in Yereven at level of parliament vice speaker

Stepanakert: Azerbaijan's video about Armenian serviceman's crossing the contact line into Azerbaijan violates international legal standards

Ex-premier: Armenia should recognize and condemn genocides in Rwanda, Cambodia, Darfur

Beeline upgrades GSM and 3G networks in Yerevan

Swiss parliamentarians to attend Armenian Genocide centennial events in Yerevan

Expert: The Kremlin realizes that it will lose Armenia and Azerbaijan as a result of possible war in Karabakh

VTB Bank (Armenia) jointly with Ameriabank fund construction of energy-efficient greenhouse complex

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

  • by Gayane Isahakyan

  • Monday, July 7, 21:41

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