As the specifications of policies adopted by ArmSwissBank imply, the Bank refuses retail banking. This differentiates the Bank from almost all banking and credit institutions operating in RA.

The bank offers loans typical of this market (car loans, mortgage loans, consumer loans) exclusively to provide the owners and management of its corporate clients a complete package of services or from a private banking perspective to meet the individual requirements of the Bank’s other clients.

When considering specific loan applications the lending committee takes into account a number of objective and subjective factors, which can lead to the denial of the loan application regardless of the client’s creditworthiness or assets that back up the loan. The said factors include the following:

Objective factors

Income of the client or related organizations, cashflows of their bank accounts, average balance and frequency of transactions, credit history, etc.

Subjective factors

Client’s or related organization’s business acceptability and conformity with the Bank’s policies, client information accessibility, cooperation perspectives, etc. 

Generally, loans are extended according to benchmark/main criteria but for each specific case of loan application the credit committee, taking into account the abovementioned objective and subjective factors, can disregard those criteria (either for the benefit of or against the client) or set additional conditions and requirements.


Possible Negative Consequences and Other Material Information

 

Dear Customer,

In order to avoid any possible negative consequences that might result related to the utilization of lending services, we encourage you to carefully study the information presented below and contact the Bank’s specialists in case of further questions. 

 

Interest on foreign currency loans is returned in drams while the principle amount is paid in the respective currency. Therefore exchange rate fluctuations can negatively affect loan payments.

In case of unduly execution of loan responsibilities (arrears, unpurposeful usage of the loan, information falsification in order to receive the loan, creating obstacles for loan monitoring/control, etc.) besides financial liability measures that the bank can exercise  the following actions can also be employed according to current legislation:

 

•    Voiding the contract before maturity and demanding the calculated interest.
•    Mortgage foreclosure and  in case the realization of the pledged property does not generate enough cash flows, it is possible that legal procedures will be imposed upon  the debtors to foreclose other property they own (if applicable).
•    Processing information about the debtor  into credit register, which will have negative impact on your credit history and obstruct further utilization of credit services (including in  other banks and credit organizations).


List of required documentation

Interest calculation sample

Explanations and examples on calculating annual effective interest rates, regulation 8/01 (in Armenian)

The list of specialized appraisal organizationa cooperating with the Bank

Contacts

* In case of discrepancies between the published Armenian and other language information, the Armenian information prevails. 

Updated 18.10.2011 17:53