Armeconombank has applied to central bank for borrowing AMD 100 million from Russian bailout credit for Armenia

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30.09.2009, 03:09

Armeconombank has applied to the Central Bank of Armenia for borrowing AMD 100 million as the first tranche from the Russian bailout credit for Armenia, David Sukiasyan, chairman of the bank’s board, said on Tuesday answering ARKA News Agency’s question.

YEREVAN, September 29. /ARKA/. Armeconombank has applied to the Central Bank of Armenia for borrowing AMD 100 million as the first tranche from the Russian bailout credit for Armenia, David Sukiasyan, chairman of the bank’s board, said on Tuesday answering ARKA News Agency’s question.

“This program was launched in our bank recently. Under the program, the bank will extend dram loans at 15% interest and for five-year maturity term”, he said.

On June 12, Russia transferred $500 million to Armenia as a bailout loan at LIBOR plus 3% preferential interest rate.

Armeconombank was registered on August 26, 1991.

Over 75% of its shares belong to EBRD (25% = one share) and SIL Concern founders, Sukiasyan family (53.4%).
The bank has 34 branches in Armenia and Nagorno-Karabakh Republic.-0---

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