In the framework of the new policy targeting dynamic development, in 2011 Armenian Development Bank increased its portfolio by 60% to total AMD 24 bln against AMD 15 bln. at the beginning of the year, according to head of the bank’s board chairman.
As Karen Sargsyan told a press conference on Feb 22, the bank currently offers credits for small and medium-sized enterprises (SMEs) for 7 years with a 21-month grace period.
“We aim to help SMEs to withstand challenges,” Mr. Sargsyan said.
Armenian Development Bank simultaneously aimed 60% at business lending of such fields as trade, processing industry, transport and construction sector, with 24% directed to mortgage lending.
Dwelling on plans for 2012, Karen Sargsyan stressed the bank’s readiness to bring loan portfolio to AMD 32 bln.
