ARARAT BANK AND IZMIRLYAN FOUNDATION SIGN COOPERATION AGREEMENT
Araratbank and Izmirlyan Foundation signed a $4 million contract under the programme of business credits co-financing in Armenia, Tuesday. Chairman of Araratbank Board Ashot Osipyan said at a press conference that the signatories will give $2 million each under the contract. He said that a single customer credit limit is $250,000-1 million, the repayment term being 5 years. The annual interest is 14% and lower. Business credits will be issued in terms of Armenian dram and US dollar. The programme is aimed at creating new jobs, which implies crediting of the organizations and enterprises that are potential future VAT payers, Osipyan said.
For his part, Jacques Sarkissian, Senior Vice President of Izmirlyan Foundation said that despite the success of the programme with Black Sea Development Bank, the Foundation adopted a decision to stop it as the bank will issue larger infrastructure credits. In this connection, the Foundation is searching for a financial partner to create new jobs. The Foundation has singled out Araratbank as an active and dynamically developing bank that has a great potential. He did not rule out the possible continuation of the programme and increase in the funding.
Araratbank is among top ten banks in Armenia by authorized capital (3.440 bln AMD on April 30 2007). It is one of the 6 participants in the programme of German KfW bank and effects transactions on cash service of the Treasury of the Ministry of Finance and Economy. The bank has launched activity in ensuring plastic card services. Since June 18 2007, Araratbank is a government agent for state debt management. On May 31 2007, the bank's assets totaled 13.7 bln AMD, liabilities - 9.5 bln AMD, total capital - 4.2 bln AMD. Among the bank's clients are 5,000 natural persons and 500 legal entities. It has 4 affiliated banks. Izmirlyan Foundation is an investment organization founded in 1994. In Armenia it contributed to implementing programmes in the spheres of education and health. Since 1999, Izmirlyan Foundation implements a programme of small and middle-size enterprise crediting. The experts of the Foundation say that some 5,000 new jobs were created in the country due to the programmes implemented by the Foundation.
- By Ara Martirosian
"INTERNATIONAL" SCIENCE CONFERENCE ON ARMENIAN-TURKISH RELATIONS IN ERZERUM
By H. Chaqrian 2On June 25, when the attention of the Turkish mass media was driven to the interview of the Armenian Foreign Minister Vardan Oskanian in Istanbul, at the "Ataturk" University, Erzerum, was going on an ...AZERBAIJAN WANTS TO RETURN MURDERER SAFAROV
Not satisfied with making the Armenian officer Gurgen Margarian's murderer Ramil Safarov a hero, Azerbaijani authorities want to return him officially to their country. The military procurator of Azerbaijan ...THE PROGRAM OF RA GOVERNMENT APPROVED
By Nana PetrosianOn June 26 the National Assembly of Armenia approved the Program of RA Government Activities of 2007-2012. The Program consisted of 42 pages. 94 deputies of NA voted in favor of the Program, 10 abstained ...EUROPE REVISING CE-TURKEY NEGOTIATIONS
By P. KeshishianAccording to information received from the Federation of European Armenians, Brussels, the Council of Europe restarted negotiations with turkey on June 26, considering two topics instead of three - statistics ...LEBANESE ARMENIAN PURCHASES EQUIPMENT FOR DIGITALIZATION FOR MATENADARAN
By Rouzan PoghosianHaving followed the recent events connected with the digitalization of the ancient manuscripts of Matenadaran, Pierre Gouyoumjian, Lebanese Armenian, decided to be useful for Matenadaran. About a fortnight ...ARARAT BANK AND IZMIRLYAN FOUNDATION SIGN COOPERATION AGREEMENT
By Ara MartirosianAraratbank and Izmirlyan Foundation signed a $4 million contract under the programme of business credits co-financing in Armenia, Tuesday. Chairman of Araratbank Board Ashot Osipyan said at a press conference ...
TURKISH OYAK BANK FOR SALE
By Hakob ChakrianDILIJAN - A FINANCIAL CENTER?
By Ara Martirosian"INTERNATIONAL" SCIENCE CONFERENCE ON ARMENIAN-TURKISH RELATIONS IN ERZERUM
By H. Chaqrian
AZERIES SPREAD MISINFORMATION ABOUT ARMENIANS BURNING FIZOULI REGION
By Aghavni HaroutiunianSIMMONS SATISFIED WITH IPAP IMPLEMENTATION IN ARMENIA
ARARATBANK GOT INTERNATIONAL RATING
By A. MartirosianPOSSIBLE IMPROVEMENT OF ARMENIA-TURKEY RELATIONS DISCUSSED ON OSKANIAN-GUL MEETING
By A. HaroutiunianA NEW GOVERNOR IN GEGHARKUNIK
ARARAT BANK AND IZMIRLYAN FOUNDATION SIGN COOPERATION AGREEMENT
By Ara MartirosianARMENIAN-RUSSIAN DIAMOND CUTTING ENTERPRISE TO BE ESTABLISHED
- 1752 Battle between the Georgian King Heraklitus the Second and Azad khan's forces near Kanaker (Armenia).
- 1904 Death of Karapet Utujian, the founder of "Massiss" weekly. He was born on 1832 10 24.
- 1993 The Artsakh forces liberate Martakert after the Azeri Turks had occupied it for a year.
ARMENIAN NEWS
INTERACTIVE NEWS
INFORMATION
MY ARMTOWN
How to quit smoking?
How to write in Armenian on Windows XP?
All materials published on this website are taken from open sources and are copyrighted by their respective owners. You cannot reproduce or copy any materials published on armtown.com without written consent of original copyright holder. If you want to remove any material, please send us an email with proof of ownership/copyright and your material will be removed immediately. All materials published for information purposes only.