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Six American States Adopting a Joint Resolution on Armenian Genocide Centennial

Political Analyst: Process of International Recognition of Armenian Genocide to be Expanded

Cem Terzi: Turkish Society Ripening for the Recognition of Armenian Genocide

Expert: April 24 Showing Scientific and Political Consensus on the Indisputability of the Armenian Genocide

U.S. State Department Representative Does not Know If the U.S. Fear Turkey

Mayor of New York commemorates centennial of Armenian Genocide - "one the worst atrocities of the 20th century"

European Movement adopts a resolution on Armenian Genocide

Ankara: Turkish nation will not forget and forgive Joachim Gauck's statements

Hollande and Aliyev discuss Karabakh conflict

Official Ankara criticizes Obama's stand on events of 1915

The Kremlin: Putin's participation in memorial events in Yerevan cannot be negatively interpreted by Ankara

Eiffel Tower and Coliseum went dark in memory of Armenian Genocide victims

Ankara strongly criticizes Francois Hollande's visit to Yerevan

Central Council of Jews in Germany advocates calling events of 1915 genocide

Ankara's Second Response to Putin's Statement on the Recognition of the Armenian Genocide

Vladimir Putin: Armenia and Russia Have Always Been, Are and Will Be Close Allies

Knesset Member Criticizing Israeli Government for Denying Armenian Genocide

Georgian Armenians Demonstrating in Front of Turkish Embassy in Tbilisi

Canadian Prime Minister Calling upon Yerevan and Ankara to Resume Negotiations on Normalization of Relations

Serzh Sargsyan: Ankara made vein attempt to resist or affect larger process related to recognition of genocide

First Commemorative Demonstration on the Armenian Genocide to Take Place in Rome since 1975

Erdogan: Turkey shares Armenians' pain

President of Armenia: I refuse to believe that transitory interests can shatter humanity's dreams of freedom and peace cherished for centuries

Serzh Sargsyan: "Turkey's proposal of establishing the so-called commission of historians has only one goal, which is to delay the process of the Armenian Genocide recognition"

Turkey's Labor Party (EMEK) and some local human rights organizations condemn Genocide of Armenians

Russian expert: Putin's participation in Armenian Genocide Centennial events not to edit Moscow's geopolitical maneuvering

Vladimir Putin: 1.5 mln Armenians were killed, 600 thsd were deported, unique historical monuments and invaluable books and manuscripts were destroyed in 1915

Serzh Sargsyan: "We are ready to embark upon a constructive dialogue with Turkey in case it faces its own history"

Francois Hollande: World community must remember Genocide to prevent it in future

Serbia President: "We have no moral right to forget the Armenian Genocide victims and the shocking facts of the past"

ANCA: Sad spectacle of President Obama playing word games with genocide falls beneath dignity of American people

Foreign Minister of Armenia: German President's statement important contribution to prevention of new genocides

Serzh Sargsyan: Armenia has never declared any territorial claims either to Turkey, or to any other country

Armenian president's interview with Hurriyet: "Turkish authorities taking burden of responsibility for crime perpetrated by authorities of Ottoman Empire"

Presidents of Russia, France, Serbia, and Cyprus arrive at Armenian Genocide Memorial in Yerevan

Google.am honors memory of Armenian Genocide victims

High-ranking representatives of various countries 'forming' a forget-me-not of peace near Armenian Genocide Memorial in Yerevan

Serj Tankian calls on Armenia's leadership to create egalitarian civic society, to get rid of institutional injustices and stop depopulation of Armenia

Obama breaks his word again

Founding Parliament Movement looks to change power in Armenia

Vladimir Putin arrives in Yerevan to commemorate Armenian Genocide martyrs

Bulgarian MP: Bulgaria has refused to discuss the draft resolution on Armenian Genocide under Ankara's pressure

Congressman Schiff Reads Names of 1,000 Armenian Genocide Victims on House Floor

Nalbandian: Recurrence of genocides in XX century was result of international community's hesitation and inconsistency

Cardinal Curt Kokh: Faith Helped Armenians Survive the First Genocide of 20th Century

Turkish Politician: Turkish Society Desires the Opening of Borders with no Preconditions

Ankara responds to Austria's resolution recognizing Armenian Genocide

Ambassador: German Policy Cannot be Affected by Phone Call from Turkey

Deutshe Welle: German parliament's decisiveness and new debate about term "genocide" gained momentum thanks to Pope Francis and President Gauck

System of a Down starts a concert in Yerevan in heavy rain

Exclusive

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Ashot Manucharyan: Russia Does Not Need Parliamentary Armenia

Samvel Farmanyan: Turkey will recognize Armenian Genocide and will do it under pressure of its own public

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Vardan Voskanyan: Iran assumes functions of "a gendarme" to remove chaos in Middle East

“Angels” and “Demons” of Film Director Hovhannes Galstyan

Andrey Areshev: Karabakh-related humanitarian initiatives from Russia could be useful

Sevak Sarukhanyan: Concerns about possible emergence of ISIS in Azerbaijan focus Tehran's attention on Baku

Alexander Zinker: Israel has never before been so close to recognition of Armenian Genocide

Andrey Yepifantsev: Russia and Armenia have what to keep silence about

Promise to convict Permyakov at 102nd Russian military base in Armenia is already a big gesture of Russia

Ruben Safrastyan: Turkey fears consequences of Armenian Genocide denial

Serious trends of geopolitical changes in South Caucasus lead to clashes and redrawing of borders

Armenian Men are Also Eager to Look Young

Karine Danielyan: The women who prefer being mothers deserve the same respect as female politicians

Georgian political expert: Putin has put his mind on implementing Primakov Doctrine

Gagik Mkrtchyan: Our country not only can but also should develop industrial production

Arthur Ashughyan: Future of lapidary industry depends on how competitive and efficient it is

Avaz Hasanov: OSCE MG, Russia, EU, or U.S. can impose no pressure upon Armenia and Azerbaijan in the matter of Karabakh

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. 

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