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"Converse Bank" is planning to increase its loan portfolio by 45% by the end of the first semester 2007


As Armen Hakobyan, Head of "Converse Bank" Main Financial Department, stated during the interview with the ArmInfo correspondent, by the end of the first semester of the current year "Converse Bank" is planning to augment its loan portfolio by 45% to an amount of AMD 16 billion.
According to Mr. Hakobyan, the current loan portfolio of the Bank amounts to AMD 11 billion of which the share of loans in AMD comprises AMD 6.7 billion, that of loans in USD - USD 11 million, the amount of loans in EURO being EUR 1 million.
We consider it noteworthy that "Converse Bank" participates in a number of international loan programs, among them - the World Bank Agricultural Reform Support Project (ARSP), IDA (International Development Association) Rural Enterprise Small-Scale Commercial Agriculture Development Program, IFAD (International Fund for Agricultural Development) Rural Areas Economic Development Program, German-Armenian Fund (GAF) Support of Micro, Small and Medium Business in RA and Express-24 Loan Programs, Development of Renewable Energies in RA supported by KfW banking group, USAID Loan Portfolio Guarantee Program for small and medium business development.


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