The European Bank for Reconstruction and Development (EBRD) is lending USD 5 million equivalent in local currency to Converse Bank for on-lending to micro, small and medium-sized enterprises (MSMEs) in Armenia.
HSBC Bank Armenia CJSC ensured 53 per cent growth of trade finance (AMD 25 billion) in January-October 2012 on the same period of 2011.
Armenia's Ameriabank cjsc and DEG (Deutsche Investitions-und Entwicklungsgesellschaft mbH) have completed a USD 20 million loan agreement. The eight year loan facility will be dedicated to financing SME projects of Ameriabank's Corporate and SME clientele.
Ameriabank have experienced booming factoring volumes so far this year in the financial market of Armenia. In the first half of 2012, the volume of factoring transactions increased by 2.7 times compared to the previous year, the largest increase among its fellow market players.
 | Suren Kocharyan, Head of the Trade Finance Department Ameriabank CJSC, provides a review of the Armenian trade finance industry covering industry environment, market performance and supply and future trends. |
The Russian-owned Bank VTB (Armenia) has introduced a successful project for recourse factoring and is planning to introduce a non-recourse international factoring in 2012.
ACBA-Credit Agricole Bank has opened a new branch in the Armenian capital Yerevan. The opening was attended by chief executive officer of the bank Stepan Gishyan, CBA Chairman Arthur Javadyan, and other officials.
