Tue, 29 April
11.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Converse bank’s gold-secured loan portfolio grows by 14 percent to more than 15 billion drams

YEREVAN, November 22. /ARKA/. Converse Bank said its gold-secured loan portfolio has grown by 14 percent since the beginning of the year to more than 15 billion drams as of November 20.

The bank attributed the growth of the gold-secured loan portfolio to several factors. First of all, the Bank offers lending terms for this loan type that are among the best ones at the market; besides, it regularly makes favorable offers to the customers.”

In particular, within the framework of a promotion campaign effective now , the Bank offers its customers AMD loans in the amount up to 130 percent of the appraised cost of gold. The maximum loan amount is AMD 5 million, the maximum maturity is 6 months, and the annual interest rate is 13-14 percent.

“No additional monthly service fees will be charged within this campaign. The interest rate on the loan secured with pledge of gold is low, since the service fee is charged only at the lending stage”, the Bank said.

Within the framework of the campaign, loans will be issued both in AMD and in foreign currency, it said.
Converse Bank’s shareholders are the Argentinean Advanced Global Investments LLC (80.94%) Armenia’s Apostolic Church (5%) and the national postal operator HayPost Trust Management B.V. Company (14,06%). ($1 – 483.66 drams). -0-

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

LATEST NEWS

spot_imgspot_imgspot_img