YEREVAN, July 2. / ARKA /. Ameriabank starts considering clients’ non-cash expenses for extending credit lines to them, Tigran Jrbashyan, the bank development director, told journalists on Wednesday.
He said the new lending product is changing stereotypes allowing the bank to occupy a new niche in plastic card market.
Jrbashyan said that people wanting to borrow money come across the problem related to estimation of their solvency and income.
“We are changing approaches and shifting to consideration of clients’ expenses, since we think expenses show clients’ solvency better,” he said. “This is very reasonable especially in countries like Armenia, where income is not always fully formalized and not all sources are known.”
Jrbashyan said the new service is available not only to Ameriabank’s clients, but also to all holders of the cards issued by Armenian banks.
He stressed that the bank is ready to analyze potential clients’ non-cash payments before lending money to them.
In his words, a new analysis unit is set up at the bank for estimating potential borrowers’ solvency.
Arman Barseghyan, the bank’s director in charge of retail transactions, on his side, said the amount of the credit line amounts from AMD 150,000 to AMD 1.5 million, depending on how much the cardholder has spent.
“The credit line will be equal to six-to-ten-fold amount of the average noncash turnover on the client’s card for the last six months,” he said. “No other income evidence is needed, since the borrower’s credit record for the last six months will show his/her solvency.”
Barseghyan also stressed that the only condition is mo less than AMD 80,000 monthly cashless turnover.
He said that to enhance the attractiveness of the new offer the bank will provide plastic cards for free at competitive interest rates. The offer is in force from July 2 to September 30.
Ameriabank CJSC is a universal bank providing investment, corporate and retail banking services in a package.
Ameriabank is the first investment bank in Armenia. It started providing a wide range of innovative banking services in 2007. The bank has nine branches in Yerevan, Nagorno-Karabakh Republic, Kajaran, Dilijan and Vanadzor. ($1 – AMD 407.85). --0----