Inecobank to bring its credit portfolio to AMD 37bln by yearend

October 20, 2010 - 16:30 AMT

PanARMENIAN.Net - Executive Director of Inecobank Avetis Baloyan said that the credit portfolio of Inecobank CJSC increased by AMD 7.5bln in January-September 2010.

“Currently, the bank’s credit portfolio makes AMD 34bln and we plan to bring it to AMD 37bln by the end of the year,” Baloyan told a PanARMENIAN.Net reporter.

He noted that the bank has intensified the lending process recently, thus Inecobank may even exceed the planned index.

Referring to the bank’s credit portfolio structure, the Executive Director said that the share of small and medium business makes 50%.

On October 20, the European Bank for Reconstruction and Development (EBRD) and Inecobank CJSC signed in Yerevan a $17mln loan agreement, out of which USD 11mln will be directed for small and medium business development, while the rest will be allocated for large business financing.

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