ARMECONOMBANK CUTS MORTGAGE INTEREST RATES BY 2%
ARKA
Oct 6, 2009
YEREVAN, October 6, /ARKA/. Armeconombank has cut interest rate on
mortgage credits by 2 % bringing it to 14%. The interest rate on
loans for home construction and repair was reduced to 16%.
According to a statement posted on the bank’s official website,
the trust in the bank continues to grow, evidenced, particularly,
by a sizeable rise in Q3 indices.
Thus, the bank’s assets in Q3 rose by 15.5%, extended credits rose by
3.3 billion Drams, time deposits grew by 1.5 billion Drams, individual
deposits by 1.2 billion Drams and corporate deposits by 9.2%. As a
result the bank posted 300 million Drams in net profits in Q3.
Armeconombank is one of Armenia’s most dynamic banks. Its capital at
the end of September exceeded 8.5 billion Drams with total assets of
52 billion Drams, credit investments rose to 29 billion Drams. The
bank has 34 branches in Armenia and Nagorno-Karabakh. ($1 – 383.32
Drams).