YEREVAN, December 16. /ARKA/. The turnover of Araratbank’s first two bond emissions on NASDAQ OMX Armenia Stock Exchange exceeded AMD 700 million, David Harutyunyan, deputy executive director of the bank, said Monday in Novsti International Press Center at the presentation of the bank’s third emission.
“In 2007, Araratbank issued its first bonds worth AMD 250 million. Later, in June 2008, the bank issued bonds worth AMD 400 million – unprecedented amount at Armenian banking system.”
Harutyunyan said that the interest in Araratbank’s bonds is being fueled not only with public confidence in this bank, but also the high indicators the bank recorded in previous years.
“In particular, an average growth of Araratbank’s indicators, including assets and credit portfolio, exceeded 30% in 2009,” he said.
Araratbank OJSC, heir of ArmSvyaz, was established in 1991.
In October 1996, the bank received the license #4.
European Bank for reconstruction and Development holds 25% of Araratbank’s shares and 74.1% belong to Barsegh Beglaryan, owner of Flash Company.
On January 30, 2009, Araratbank joined NASDAQ OMX Armenia Stock Exchange.
The bank has 27 branches in Armenia.
According to the information ARKA News Agency has at its disposal, the bank’s assets totaled AMD 29 billion and liabilities AMD 21.3 billion by late September.
The bank’s total capital amounted to AMD 7.5 billion and profit AMD 454.3 million. ($1 = AMD 383.63). –0–
