YEREVAN, May 24. / ARKA /. Armenian bank Anelik said it is introducing a new scheme designed to automate the process of loan issuance and decision-making on lending to micro, small and medium-sized businesses.
In a press releases sent to ARKA the bank said the new scheme allows to quickly and accurately analyze the creditworthiness of applicants and provide him or her with the requested loan with a grace period and most convenient repayment schedule.
“Seasonality of receipts and outflows, as well as other features are present in any business. This scheme takes into account almost all specifications Until now the Bank has used 7-8 similar schemes, but they gradually become exhausted due to changing parameters and limitations. They were not flexible to respond to changes in limitations and other key factors, losing eventually their relevance over time,” Mkrtich Tadevosyan, head of risk analysis and assessment division of the bank, was quoted as saying.
According to him, the new scheme makes it possible to fill this gap and also allows to predict future scenarios – from bad to good.
The scheme was developed by Anelik Bank, and then examined by the International Finance Corporation (IFC), which currently provides consulting services to the bank. IFC studied it in detail and approved its introduction.
In future the scheme will be developed to be applied to other business activity areas, particularly, for analysis in animal husbandry and horticulture or in the construction and refurbishing of small hydropower plants. Anelik bank has 11 branches. -0-
