Armenia's Anelik Bank introduced two new loans on Tuesday, known as gold plus and secured by gold.
Gold plus offers borrowers a one-year loan equivalent to 150 percent of the cost of the gold given as security. Secured by gold offers borrowers a two-year loan equivalent to 110 percent of the cost of the gold given as security.
"Our new products have received quite positive feedback from our clients," Artghik Martirosyan, the public relations manager of Anelik Bank, said. "So, we hope that very soon our bank will become a place where any physical or legal entity will be able to find exactly what he needs."
Anelik Bank increased its consumer loan book by 16.2 percent to $34.2 million in 2013, according to ArmInfo's financial rating of Armenian banks. The bank's consumer loan book accounted for 33 percent of its total lending portfolio.
Anelik Bank has 12 branches in Yerevan, Gyumri, Abovyan, Gavar, Echmiadzin, Vanadzor and Sevan.
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