Newsfeed

Head of Russian Sports Federation: Sports laws oblige Azerbaijan to permit Henrikh Mkhitaryan's entry to Azerbaijan

LOT (Poland) to resume flights to Yerevan on 1 Jan 2016

To mark the 150th anniversary HSBC will allocate US$150m in community projects and local charities

Official investigation of the case against the policeman who had hit an elderly man, is suspended

EEU: The EEU Treaty allows the authorized veterinary bodies of the member-states to unilaterally apply temporary bans and restrictions on the products

Jermuk branch ensured three-fold increase of capture portfolio and became the winner of the contest among the VTB Armenia Bank

Beeline is recruiting local sales experts

"No to Plunder!" Initiating a New Wave of Disobedience

VivaCell-MTS provides broadband Internet, IP telephony and IP TV services to Central Bank's facilities in Dilijan

Turcologist: Aggravation of domestic political situation in Turkey to increase threats to Armenian community

Armen Martirosyan: Heritage leader's stand on constitutional reforms in tune with Heritage Party's stand

Renewed commitment at the highest level needed for Karabakh conflict settlement, Warlick says

Russia is responsible fulfilling its duties in Karabakh peace process

NKR Defense Army repels one more sabotage attack of Azerbaijani troops

Turcologist: Holding Off-Year Parliamentary Elections in Turkey Seeks to Transfer the Country into Presidential Government

VivaCell-MTS and Fuller Center for Housing Armenia Continue Partnership

VII PanArmenian Barbeque Fest to Take Place on Sep 12

Heritage to take no part in discussions on constitutional reforms with President

Stepanakert: NKR Defense Army keeps a tight rein on adversary

Manvel Sargsyan: Constitutional referendum is aimed at destroying the basis of Armenian statehood – the presidency institution

U.S. Ambassador: "One of the most effective drivers of cooperation is common business interests"

Gevorg Kostanyan requests his Azerbaijani colleagues to inquire into death of Armenian citizen Karen Petrosyan

Artak Zakaryan: We will be following Venice Commission's recommendations as much as they will meet our traditions and mentality

VTB Bank (Armenia) most recognizable bank brand in Armenia

Ucom not Clear about Orange Brand Future

Russian Air Carriers to Raise Air Ticket Prices again

Air Armenia Company embarks on second phase of overcoming stress period

Regional

INECOBANK offers SMEs easy loans with holidays on interest

  • Wednesday, June 25, 03:11

Within the frames of the Easy Loans campaign, INECOBANK offers the SME borrowers to switch from other banks to INECOBANK and to get holidays on interest.   

The press service of the Bank has told ArmInfo that the campaign will be launched on 1 July 2014 and will last till 31 Dec 2014. This offer gives SMEs an opportunity to ease their loan burden by reducing the amount of their monthly payments and making use of the lending terms. The borrowers filing their applications before 31 July 2014 will get holidays on interest. In other words, in July and August they will be exempted from interest payments and all the summer payments will be put off till September 30. The Bank will cover the loan-related expenses (securitization) in case the repayment periods are put off. 

"A survey of the customer demand has shown that the changes in the situation in the SME market, particularly, the decline in the sales has raised the loan debt burden and the need to reduce the amount of monthly payments has arisen. Our option allows refinancing old loans upon new terms. Considering seasonal economic recession in July-Aug, we have decided to give our customers a month's respite and to allow them to pay their dues till Sept 30 when their revenues resurge. This serves both their and our interests," says Deputy CEO of INECOBANk Aram Baloyan.

According to ArmInfo's Rating of Banks of Armenia, as of Apr 2014 INECOBANK's loan book totaled 89.2bln AMD (8.5% bigger than on Apr 1 2013), of which 51.2bln or 57.4% AMD was lent to SMEs (11.2% more than a year before). 

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