  Armenian Development Bank to increase loan portfolio in 2012 February 22, 2012 - 15:59 AMT PanARMENIAN.Net - In the framework of the new policy targeting dynamic development, in 2011 Armenian Development Bank increased its portfolio by 60% to total AMD 24 bln against AMD 15 bln. at the beginning of the year, according to head of the bank’s board chairman. As Karen Sargsyan told a press conference on Feb 22, the bank currently offers credits for small and medium-sized enterprises (SMEs) for 7 years with a 21-month grace period. “We aim to help SMEs to withstand challenges,” Mr. Sargsyan said. Armenian Development Bank simultaneously aimed 60% at business lending of such fields as trade, processing industry, transport and construction sector, with 24% directed to mortgage lending. Dwelling on plans for 2012, Karen Sargsyan stressed the bank’s readiness to bring loan portfolio to AMD 32 bln.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
