YEREVAN, June 28. /ARKA/. Armenian Armeconombank expects up-to-12-percent improvement of all its indicators in 2010, Hayk Mkrtchyan, deputy executive director of the bank, said on Friday after the bank shareholders’ annual meeting.
He finds it a quite feasible plan.
Mkrtchyan said that the bank managed to overcome he crisis and show growth in principal indicators yet in 2009.
In particular, the bank’s assets grew 4.6% to AMD 52.2 billion and its credit portfolio grew 8.1% to AMD 29.2 billion in 2009.
Armeconombank’s liabilities totaled AMD 43.5 billion by late December 2009 after growing 5.4% over that year.
Individuals’ time deposits reached AMD 6.1 billion by late December after growing 22.5% over the year.
“We have managed to ensure growth of the bank’s main indicators in 2009, though they were lower than planned indicator. So, the bank ended that year successfully despite the financial and economic crisis,” Mkrtchan said.
He said that the market was sluggish in 2009 because of the crisis, but signs of recovery are already seen in the results of the first quarter of this year.
He singled out re-equipment and expansion of the bank’s branch network among Armeconombank’s plans for 2010.
The bank intends to ensure its presence in Armenia’s all the provinces.
Armeconombank is also planning to launch package services, open VIP service halls, make t possible to use accumulative plastic cards and receive money transfers by using plastic cards.
Armeconombank OJSC was registered on August 26, 1991.
European Bank for Reconstruction and Development holds 25% 1+ one stock, and 53.4% belong to Sukiasyans, a family of entrepreneurs.
According to ARKA News Agency’s data, Armeconombank’s assets totaled AMD 46.7 billion and liabilities AMD 38.5 billion by March 31, 2010.
The bank’s authorized capital amounted to AMD 2.3 billion, credit portfolio AMD 26.9 billion, liabilities to clients AMD 22.8 billion and net losses for he first quarter AMD 436.9 million.
The bank has 34 branches in Armenia and one in Nagorno-Karabakh Republic. ($1 = AMD 369.28). -0—-
