Newsfeed

The personal investment of VivaCell-MTS employees in the creation of a computer class in the boarding school of Byureghavan

Geoteam has contributed around AMD 720 million (USD 1.6 million) to communities adjacent to Amulsar in land rental fees.

Nursultan Nazarbayev ratifies treaty on Armenia's accession to the EEU

Films on Armenian Genocide to be shown in 20 countries in 2015

Gallup International Association: Yerevan residents give 3.9 points (out of 5) to activity of Police Head

Gallup International Association: Yerevan residents give Mayor Taron Margaryan 4.1 points (out of 5)

Fatih Akin's "The Scar" to be demonstrated in Yerevan

Beeline subscribers can receive free roaming calls in any country

Robert Kocharyan's Office refutes information about two presidents' meeting

Levon Hayrapetyan hospitalized due to health deterioration

Newspaper: Seyran Ohanyan to run for president from Republican Party of Armenia in 2018

Central Bank of Armenia raises refinancing rate from 6.75% to 8.5%

Hrachya Rostomyan: The European Games are not the property of Baku

For the first time Armenian journalists get an opportunity to participate in fourth annual contest of Rostelecom OJSC

Rostelecom's investments in Armenia to total nearly AMD 3 billion in 2015

ProCredit Bank makes surprise offer to its customers - Holiday Deposit

Gagik Tsarukyan to call a meeting for opposition political parties, organizations and movements

Armenian National Congress: "Latest financial crisis is one more reason to shift power in Armenia"

George Clooney's wife to represent Amenia at ECHR

Seyran Ohanyan: After downing Armenian helicopter, Azerbaijan received incommensurate retaliation from Armenia

Armenian Motor Insurers' Bureau warns car owners about 100,000 AMD fine for absence of obligatory motor insurance contract

Armenia's Central Bank sold banks $1mln out of offered $2mln on Dec 22

Beeline Children Development Corners in Yerevan

Areximbank-Gazprombank Group starts issuing Visa payWave cards

OJSC "VTB Bank" finances construction of a mining and concentration plant in Teghut

VivaCell-MTS offers 4G for the price of the 3G

Head of National Security Service of Armenia: NSS is not going to watch power change attempts from the sidelines

Nagorno-Karabakh Defense Army soldier dies

ACBA-CREDIT AGRICOLE BANK announces results of draw among Visa Student cardholders and student loan borrowers

INECOBANK receives first US$5mn tranche from EBRD to finance renewable energy and SME

Banks buy $1.7 million out of $4 million offered by Central Bank on 20 December

Beeline and Technology Development Center present App Armenia system and mobile application

Vigen Barseghyan appointed as Acting Director General of Areximbank-GPB Group

Vallex Group launches mining at Teghout copper-molybdenum deposit

Anelik Bank faces no problems with liquidity amid national dram hyper-devaluation due to financial support Credit Bank S.A.L.

On 20 December ACBA-CREDIT AGRICOLE BANK to hold annual prize draw ahead of the New Year among Visa Student cardholders and raffled off tuition fees

Expert: In 2015 the situation over Nagorno-Karabakh will not be better than in 2014

Nagorno-Karabakh PM: Question whether there should be a customs point on Armenian-NKR border is no longer on agenda

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