Byblos Bank to intensify activity in 2011December 7, 2010 - 14:44 AMT PanARMENIAN.Net - Dr. Francois S. Bassil, Chairman and General Manager of Byblos Bank Group, said that after the stage of formation, the bank considers 2011 as a year of the actual launch of the bank’s activity in Armenia. To this end and with a new leadership, the bank intends to develop its credit portfolio, focusing on SME, Bassil told a press conference in Yerevan. “We are going to facilitate companies’ development in the field of industry and export, thus decreasing the country’s dependence on import,” he said. According to Bassil, the head company of Byblos Bank Group is also ready to assist programs development. It already allocated long-term funds at the amount of $10mln this year. “Recently, we reached an agreement on obtainment of another two credit lines from EBRD and OPEC Fund for International Development - $5mln each,” he said, adding that the volume of retail lending is also envisaged to be increased, with a specific focus on mortgage lending. CEO of Byblos Bank Armenia Ararat Ghukasyan said that the credit portfolio of the bank will total around $12.5-13mln by the end of 2010 that is 42% higher compared to the index of last year. And minimum 60-70% growth should be recorded in the portfolio ion 2011. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |