Byblos Bank Armenia at the beginning of 2012
When making right and efficient banking

2011 has been a remarkable year for Byblos Bank Armenia thanks to completion of   major financial deals and implementation of programs. The bank has succeeded to enter into several agreements with international financial institutions and is looking forward to the new ones which will be focused on the development of small and medium businesses.

Byblos Bank Armenia cooperates with the European Bank for Reconstruction and Development (EBRD1) in facilitating funding to private businesses. In line with earlier signed agreement between EBRD and Byblos Bank Armenia throughout 2011 the total amount USD 5 million facility granted to the bank has been utilized fully  among Armenian commercial entities operating in the  following sectors: manufacturing, services and food processing.

According to the contract recently signed between Byblos Bank Armenia and European Fund for Southeast Europe (EFSE2) Bank has been granted two facilities in the amounts of AMD 875 million and USD 3 million. These funds will be used to finance small and medium size businesses in Armenia.

“Byblos Bank Armenia has finalised negotiations with other international financial institutions for attracting large-scale and long-term funds during the first quarter of the coming year. The new funds will be aimed at the financing of small and medium-size entities, as well as will promoting mortgage lending ” – said Mr. Ararat Ghukasyan, Chief Executive Officer of Byblos Bank Armenia.