YEREVAN, June 17, /ARKA/. Armswissbank said in a press release it begins offering credits and renewable and non-renewable credit lines for its clients as part of two programs designed to support small and medium-sized businesses and trade respectively. It said these credit instruments are offered as part of cooperation with the European Bank for Reconstruction & Development (EBRD).
Credits to companies meeting the requirements of the first program are issued at 15% interest rate and those meeting the requirements of the second program at 10%. The minimum credit amount (it may be allocated in USD, Euros and other convertible currency) is equivalent to $100,000.
Armswissbank is a fully Swiss owned bank. On March 31 its assets totaled 36.6 billion Drams, liabilities stood at 28.2 billion Drams, the total capital was worth 8.4 billion Drams and the chartered capital was worth 7 billion Drams. Its credit investments stood at 10.8 billion Drams, client liabilities at 11.3 billion Drams. The bank earned 272.6 million Drams in net profits in the first quarter of the year. -0-
