ARMENIAN BANKS START ‘CARRIAGE PAID CREDITS’ ALLOCATION

arminfo
2007-09-06 17:40:00

ArmInfo. From now on, the Armenian banks will be able to grant
"carriage paid credits". The Head of Policy and Financial System
Analysis Department of the Armenian Central Bank David Sarkisyan said
at a press conference that this is envisaged by the normative changes
of the Central Bank.

According to him, this will give the Armenian banks an opportunity
to grant credits to the residents of the country’s distant
villages without opening branches. He explained that relevant
bank specialists will leave for villages to the clients to hold
consultations, to conclude contracts and to organize retail lending
within the republic. "As a result, the banks will be able to promote
their activity in the country’s regions, without spending money on
opening regional branches", D. Sarkisyan emphasized. He added that
the decision on granting of small loans will be made locally, while
those on considerable credits – at the bank’s head offices.