Noyan Tapan: "Converse" Bank stands on the second spot (after HSBC-Armenia Bank) in the banking system of Armenia as far as the volume of its assets is concerned. According to the bank's Director General Smbat Nasibian, towards the end of this year, the assets of the bank will total nearly 30 billion drams (close to $51.3 million) and the credit investments will amount to nearly 13.8 billiob drams. The bank's profit will total $1 million this year.

According to Nasibian, in the conditions of removed legislative obstacles connected with the pawn realization and specification of its mechanisms, the bank is planning to realize mortgage crediting in the size of $2-3 million. He reported that floating interest rates will be established for mortgage credits, initially they will total 18% and will be reduced in the future. According to S. Nasibian, mortgage crediting will become a stimulus for the development of the country's realty market. According to him, after introducing mortgage crediting in Kazakhstan, prices of apartments increased by 30% during one year.

Nasibian also said that crediting of one million drams will be realized within the framework of the small and medium-sized enterprise development project of the Armenian-German Fund by the end of this year. The volume of future crediting will most likely total $3 million.