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Artsakhbank’s mortgage portfolio grows 30.95% to AMD 6386.8 million in 2010

YEREVAN, February 16. /ARKA/. Artsakhbank’s mortgage portfolio grew 30.95% in 2010, reaching AMD 6386.8 million by late December, the bank’s press office reported on Wednesday.

The bank’s consumer loan portfolio grew 26.9% to AMD 14554.9 million.

Artsakhbank ranked third among Armenian banks for its ROE (19.82%) in 2010.

The bank’s individual deposits grew 56.13% in 2010. Dram deposits grew by 62.34%.

Artsakhbank, with its AMD 1662 million in profits, was the eighth largest profit-gainer among Armenian banks in 2010.

Artsakhbank CJSC was established on the Nagorno-Karabakh president’s decree in December 1995.

Vartan Sirmakes from Switzerland holds 43.13% of the bank’s shares, and 44.08% belong to Hrach Kaprielian from the United States. ($1 = AMD 365.4). -0-

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