Sun, 28 September
17.1 C
Yerevan
USD: 382.71 RUB: 4.59 EUR: 446.43 GEL: 141.38 GBP: 510.80

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

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

LATEST NEWS

spot_imgspot_imgspot_img