Armenia’s Ardshininvestbank, Worldbusiness capital inc sign $10 million loan agreement
30.03.2009,
20:31
Armenia’s Ardshininvestbank and the U.S. WorldBusiness Capital Inc signed a $10mln loan agreement in Washington, DC on March 26.
YEREVAN, March 30. /ARKA/. Armenia’s Ardshininvestbank and the U.S. WorldBusiness Capital Inc signed a $10mln loan agreement in Washington, DC on March 26.
Guaranteed by the U.S. Government agency Overseas Private Investment Corp (OPIC), the 10-year loan will help Armenia boost small-and-medium-sized businesses. In its turn, Ardshininvestbank will earmark $2.5mln for the program.
The bank’s Deputy CEO Sergey Virabyan and Executive Vice President and Chief Lending Officer of WorldBusiness Capital Inc Robert Monyak signed the agreement. Armenia’s Ambassador to the USA Tatul Markaryan, as well as high-ranking officials from OPIC, WorldBusiness Capital Inc and IMF were present at the agreement signing ceremony.
“Implementing this program, Ardshininvestbank will boost small-and-medium-sized businesses in Armenia and help those enterprises out of the global financial crisis,” said Acting CEO of Ardshininvestbank Gurgen Harutyunyan.
The bank aims at gradually developing relations with international partners to be able to attract foreign investments and stabilize the country’s economic situation. Ardshininvestbank currently has 49 branches in Armenia, with another 6 branches being located in Karabakh. The bank has its representation in Paris.
Some 168,000 individuals and legal entities are the bank’s clients.
As of 2008, Ardshininvestbank gained the largest net profit in the country’s banking sector and ranked second for loan investments. Ardshininvestbank was the third largest Armenian bank with its liabilities and assets.
Last year, Moody's international ratings agency granted a Ba1 long-term rating to the bank for its national-currency deposits, as well as a Ba3 long-term rating and a short-term Not Prime rating for foreign-currency deposits.
The bank was graded a D rating (D minus) for financial stability.
In 2008, Ardshininvestbank was awarded an ISO 9001:2000 quality management systems certificate. –0--
Guaranteed by the U.S. Government agency Overseas Private Investment Corp (OPIC), the 10-year loan will help Armenia boost small-and-medium-sized businesses. In its turn, Ardshininvestbank will earmark $2.5mln for the program.
The bank’s Deputy CEO Sergey Virabyan and Executive Vice President and Chief Lending Officer of WorldBusiness Capital Inc Robert Monyak signed the agreement. Armenia’s Ambassador to the USA Tatul Markaryan, as well as high-ranking officials from OPIC, WorldBusiness Capital Inc and IMF were present at the agreement signing ceremony.
“Implementing this program, Ardshininvestbank will boost small-and-medium-sized businesses in Armenia and help those enterprises out of the global financial crisis,” said Acting CEO of Ardshininvestbank Gurgen Harutyunyan.
The bank aims at gradually developing relations with international partners to be able to attract foreign investments and stabilize the country’s economic situation. Ardshininvestbank currently has 49 branches in Armenia, with another 6 branches being located in Karabakh. The bank has its representation in Paris.
Some 168,000 individuals and legal entities are the bank’s clients.
As of 2008, Ardshininvestbank gained the largest net profit in the country’s banking sector and ranked second for loan investments. Ardshininvestbank was the third largest Armenian bank with its liabilities and assets.
Last year, Moody's international ratings agency granted a Ba1 long-term rating to the bank for its national-currency deposits, as well as a Ba3 long-term rating and a short-term Not Prime rating for foreign-currency deposits.
The bank was graded a D rating (D minus) for financial stability.
In 2008, Ardshininvestbank was awarded an ISO 9001:2000 quality management systems certificate. –0--
