Newsfeed

NKR Defense Army Commander: Baku blackmailing OSCE Minsk Group

Investigation Committee: Karen Petrosyan might be abducted from Armenia's territory

Manvel Grigoryan: In case of war in Artsakh, the boys of oligarchs and statesmen will also be fighting

No single Iraqi Yazidi has so far applied to Armenia for refuge

VTB Bank (Armenia) prolongs working time at some of its branches

Beeline grants its customers 1,000 intra-network minutes or 1,000MW Internet traffic on their birthdays

Paruyr Hayrikian to embark on hunger strike on 8 September

Aziz Tamoyan: Yazidis are killed on the same scenario as Armenians in 1915

Hovik Abrahamyan: I cannot wave a magic wand to bring everyone out of the shadow

Nikol Pashinyan urges Parliament to provide privileges to residents of near border Armenian communities

Roman Pope to serve liturgy timed to Armenian Genocide centennial

Washington refuses to sell Cougar military vehicles to Baku

Vagharshak Haroutiunyan: Azerbaijani Armed Forces have no means to reflect Armenian missiles

USA calls on Government of Azerbaijan to conduct full and transparent investigation into death of Armenian man in Azeri captivity

Ardshininvestbank plans to buy shares of Artsakh Investment Fund

Armenian authorities share the indignation of Yazidis living in Armenia concerning the ongoing tragic events in Iraq

Gary D. Robbins: "As a co-chair of the OSCE Minsk Group, the United States remains committed to helping all sides reach a lasting settlement to the Nagorno-Karabakh conflict"

Head of Armenia's Diplomatic Mission to OSCE slams Azerbaijan for provocations

Tom de Waal: Russia is fueling conflict in order to manage the situation

Ali Husseinly: Russia's activity at current stage of Karabakh conflict is for a reason

Court does not change measure of restraint against Levon Hayrapetyan

Alexander Sotnichenko: United States will not launch large-scale intervention to stop extermination of national minorities in Iraq

Stepan Safaryan on aid to Iraqi Yezidis: Inactivity of Armenian diplomacy no longer surprises public

Exclusive

Zardusht Alizadeh: Arriving in Sochi, Aliyev and Sargsyan once again demonstrated the world that Russia is still the demiurge in the Caucasus

Masis Mailyan: Unlike Azerbaijan, global centers of force are not interested in growing tensions in Nagorno-Karabakh conflict zone

Sergey Grinyayev:The West’s sanctions are extremely positive for the Eurasian Union project

Alexey Kolomiyets: West's sanction will hardly sober Putin and the Kremlin

Hrant Bagratyan: Sanctions will have tangible impact on Armenia

Georgi Kolarov: The second Nagorno-Karabakh war is inevitable

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

Marine Karapetyan: Ameriabank on large business: problems and solutions

Eduard Sharmazanov: The opposition camp has no leader to steer the people

Alexander Zinker: Readiness of the Kremlin to protect its “Big Russian world” is dangerous for Russia itself

Vahe Davtyan: lternative power engineering should be developed regardless of fluctuations in electric power tariffs

Alexander Krylov: Taking into consideration the experience of the EU, Russia has to refuse maximal extension of the Eurasian Economic Union

Rasim Musabekov: Not only global but also the regional geo-political balance is changing

Zardusht Alizade: Apart, Armenia and Azerbaijan will always remain non-democratic fascist states

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