YEREVAN, May 25, /ARKA/. Armenian Development Bank (ADB) said it has revised its interest rates for deposits in Drams. A statement on its official website said the interest rate on a deposit called Ordinary will be 12% if the deposit is placed for a period frOm 1 to 6 months. The minimum amount of such deposit is 100,000 Drams.
Armenian Development Bank was founded in 1990. Before 1996 it was called Reconstruction and Development Bank. According to ARKA’s data, on March 31, 2010 its assets totaled 23.5 billion Drams, its liabilities were worth 17.1 billion Drams and the total capital-6.4 billion Drams. The bank’s credit investments stood at 13.6 billion Drams and net profit for Q1 was 262.7 million Drams. ADB has one branch.($1- 385.74 Drams). -0-
