Armenian Development Bank’s outstanding loan portfolio surges by 80 percent in first quarter

Banks
ADB

YEREVAN, April 25. /ARKA/. The Armenian Development Bank (ADB) said its outstanding loan portfolio in the first quarter of 2012 surged by 80% from a year earlier or by 11.7 billion drams.

According to a press release of the bank, the ADB continues to offer its customers new services and loans.

“The bank offers two types of new commercial loans. One of them may interest those entities and private entrepreneurs who are seeking large loans secured by collateral, and the second is for companies which intend to purchase commercial and manufacturing premises, warehouse, offices, land or other real estate,” the press release said.

The Armenian Development Bank was established in 1990. Prior to 1996 it operated as Bank of Reconstruction and Development. Its shareholders are Ruben Hayrapetyan – 19.98%, Ara Mekhakyan – 16.95% and Grigor Termenjian – 16.03%. ($1 – 392,84 drams). -0-

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