YEREVAN, November 9. /ARKA/. The focus of a seminar initiated and supported by Converse Bank and conducted today in Yerevan by SME Banking Club, a professional international platform for business bankers, was on the latest tends in lending to SMEs, agriculture and energy sectors.
Rostom Badalyan, Converse Bank Corporate Business Director, who was one of the key speakers at the event, told reporters that the objective of the seminar was to present the international trends in SME development, eco-banking and agribusiness to banking experts in Armenia.
The seminar has brought together experts from Armenian banks and public sector representatives, who communicate directly with SMEs and cooperate with local banks.
According to Badalyan, SME are the engine of the economy, a segment, which is less prone to shocks, which quickly adapts to new conditions and is more viable. He said SMEs are s instrumental in formation of the middle class through creation of new jobs, expansion of exports and creation of new enterprises.
He said this in view commercial banks have much to do.
“SME is the sector that benefits the banks, because they allows the latter to diversify their risks, and increase the likelihood of repayment. Besides, SMEs bring about new business directions such as intensive agriculture, renewable energy, IT, high-tech, which the banks should not be afraid of financing,” Badalyan said.
He said Converse Bank offers a variety of products, including financing of startups. He said as a result, the bank’s agriculture lending portfolio grew to 9.6 billion drams at the beginning of October, 2018 , and the lending to SME to 32 billion drams. The bank provided also 4.8 billion drams for the construction of hydroelectric power and solar stations.
For his part, the founder and CEO of SME Banking Club Andrei Gidulyan said it cooperates with international financial organizations, financial structures- including commercial banks, which seek to increase the value of their financial services by providing a variety of financial and non-financial services for SMEs, and are ready to respond to the most critical challenges of the present and thus achieve a new level in development of their banking business.
He said the main goal of its activity in Armenia is to support banks, to share best practices that can contribute to the development of SMEs.
The seminar in Yerevan was attended by international speakers and representatives of the Armenian banking system. Speeches were e delivered by the founder of SME Banking Club Andrey Gidulyan, as well as industry experts Alexey Sayapin, Ivan Yerko and Mikhail Medko, who reported on the most recent development trends in SME banking, SME agro-lending, energy efficiency and alternative energy financing.
Converse Bank was registered on December 20, 1993. The bank’s shareholders are Advanced Global Investments” LLC (Argentina) with 80.94%, Armenian Apostolic Church with 5% and HayPost Trust Management B.V. Company with 14.06%. -0—
