Armenia’s citizens are poorly aware about leasing privileges: Gishyan
23.04.2013,
16:44
Citizens of Armenia are not well aware of leasing privileges, CEO of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan said Tuesday.
YEREVAN, April 23./ARKA/. Citizens of Armenia are not well aware of leasing privileges, CEO of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan said Tuesday.
“First and foremost, there is an issue of poor awareness about what leasing is, what its main privileges are compared to some other type of lending,” he said at the news conference on the occasion of AGBA Leasing tenth anniversary.
Amid the main privileges of leasing Gishyan singled out longer-term financing, and that any leasing subject is a subject to secure the loan.
“The contracts are mainly signed for 5-7 years (up to 10 years for real property), and lending is usually shorter,” he noted.
As to interest rates, Gishyan highlighted they can differ, as in case with banking lending, and an annual interest rate varies within 12-18% for movable, and 10-14% for immovable properties.
According to Armenia’s Central Bank, an average interest rate on loans was 14.9% at the end of February.
AGBA Leasing CJSC was established in April 2003. The organization supports housing subjects in equipment. It offers leasing of agricultural machinery, transport, medical equipment, and real property (since 2011). -0-
