HERE AND BEYOND
Express leasing product from Ameriabank ensures quick and convenient service
Media Room
As an active promoter of financial lease service, Ameriabank has introduced a brand-new express leasing scheme to the market. Mrs. Gayane Barkhanajyan, Head of Leasing Unit at Ameriabank, featured the benefits and unique features of the new product in an interview to the Delovoy Express.

What was the reason for development of express leasing product? How will it appeal to the clients?
We’ve spotted the necessity to develop a standard and affordable leasing process under competitive terms following the preferences of our clients, wishes and recommendations of the sellers, our own observations and market analysis. Our aim is to create a standard leasing scheme enabling the bank to respond to the client’s application as soon as possible. Express leasing is intended for companies with stable performance and good credit score which wish to buy vehicles, equipment or other assets in Armenia from domestic dealers. For cross-border transactions, when consulting our clients we usually recommend to avoid rush and take time for risk minimization and determination of the best terms for purchase and further service of equipment and vehicles.
Surely express leasing product seems much more attractive for the consumers, all the ‘quick’ products do. The application handling procedure is much quicker and simpler with fewer documents required. The financing decision is made within 5 days upon submission of incorporation documents and financial statements for the most recent reporting period.

What are the main terms of express leasing service?
Financing may be provided for lease of vehicles, equipment and real estate. The minimum down payment is 15% of the asset value with the interest rate starting from 12% and the amount not more than 40 million Armenian drams. The lease tenure for vehicles and equipment is from 6 months to 5 years. For real estate the term is up to 10 years.
I’d like to highlight that there is no application handling fee. Moreover, the client may repay the outstanding amount before the due date without any fines and additional payments, after 6 months of usage of vehicles or equipment, or get title to the assets without any additional payments and fees. We would recommend our clients to weigh both interest rates and all other payments due prior to making the final decision.

All the quick products are assÐūciated with high risks. How does Ameriabank couple high speed of transactions with reliable system of client assessment?
We have our own client assessment method based on the bank’s experience. We have set a number of criteria enabling us to make the best decision. The method makes it possible to streamline the decision-making process to deliver the service to the client in the shortest period of time without adding to risk exposure. Moreover, since the leased assets as a rule are new and marketable, the risks are minimized enabling us to set affordable level of down payments.
Note that the upgrading process comprises as a rule not a single transaction but a continuous series of deals. For example, many of healthcare institutions completely change their medical equipment once per 2 or 3 years, while transportation companies often renew the vehicles. It makes all the procedures simpler, quicker and more efficient without impact on the quality of our leasing portfolio. We are always open to support such clients offering standard and express leasing services.

Is express leasing service intended for Ameriabank’s regular clients only?
Not necessarily. However, I think that express leasing scheme will increase our client outreach and boost growth and diversification of Ameriabank’s leasing portfolio which currently amounts to more than 2 bn Armenian drams. Moreover, the product will be continuously improved following the clients’ recommendations and needs. 
Updated 28.07.2011, 12:15
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