Araratbank posts 2.2 billion drams in net profits for 2011

YEREVAN, January 20. /ARKA/. Armenian Araratbank earned in 2011 some 2.2 billion drams in net profit, the bank’s CEO, Ashot Osipyan, said at a press conference on Friday. He said return on equity (ROE) was 19.6%, while return on assets (ROA) – 3%. Osipyan also said the bank saw last year a 51% growth in its outstanding loan portfolio with the greatest share of loans provided to small and medium businesses.
“The loan portfolio amounted to 38.6 billion drams, of which about 65% were provided to small and micro business. We will try to preserve this ratio in 2012 as well,” he said.On other indicators, Osipyan said the assets soared by 37%, customer base increased by more than 50%, the number of plastic cards has grown by about 30 thousand and the deposits surged by 40%. He said the bank opened last year four new branches increasing their number to a total of 37 and plans to open another five in 2012.
Araratbank, previously called Haykap Bank, was founded in 1991 and provides a full range of banking services to corporate, MSME and retail customers. The bank has established a reputation as a small but reliable and dynamically growing financial institution. EBRD holds 25% in Araratbank. The rest is held by Barsegh Beglarian, head of the biggest petrol importing company Flash.
According to ARKA’s data, as of December 31, 2011 its assets totaled more than 87.7 billion drams, the obligations stood at about 75.5 billion drams, total capital stood at 12.3 billion drams, the share capital at 7.2 billion drams deposits at 54.9 billion drams ($1 – 387.67 AMD). -0-

YEREVAN, January 21. /ARKA/. Armenian Araratbank earned in 2011 some 2.2 billion drams in net profit, the bank’s CEO, Ashot Osipyan, said at a press conference on Friday. He said return on equity (ROE) was 19.6%, while return on assets (ROA) – 3%. Osipyan also said the bank saw last year a 51% growth in its outstanding loan portfolio with the greatest share of loans provided to small and medium businesses.

“The loan portfolio amounted to 38.6 billion drams, of which about 65% were provided to small and micro business. We will try to preserve this ratio in 2012 as well,” he said.On other indicators, Osipyan said the assets soared by 37%, customer base increased by more than 50%, the number of plastic cards has grown by about 30 thousand and the deposits surged by 40%. He said the bank opened last year four new branches increasing their number to a total of 37 and plans to open another five in 2012.

Araratbank, previously called Haykap Bank, was founded in 1991 and provides a full range of banking services to corporate, MSME and retail customers. The bank has established a reputation as a small but reliable and dynamically growing financial institution. EBRD holds 25% in Araratbank. The rest is held by Barsegh Beglarian, head of the biggest petrol importing company Flash.

According to ARKA’s data, as of December 31, 2011 its assets totaled more than 87.7 billion drams, the obligations stood at about 75.5 billion drams, total capital stood at 12.3 billion drams, the share capital at 7.2 billion drams deposits at 54.9 billion drams ($1 – 387.67 AMD). -0-

spot_img

POPULAR

Fitch forecasts inflation in Armenia at 4.4% in 2026, subsequently declining to 3%

The international rating agency Fitch Ratings expects inflation in Armenia to average 4.4% in 2026, after which it will gradually return to its target level of 3%.

Armenia has benefited from capital transit, but its origins pose reputational risks – Tavadyan

The report of the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) on Armenia documented the country's progress in developing its anti-money laundering and counter-terrorist financing systems, but identified insufficient effectiveness in investigations, prosecutions, and confiscation of criminal assets, as well as the need for stronger oversight in several economic sectors.

Strong banks’ capital and liquidity positions mitigate risks to Armenia’s financial stability – Fitch

Risks to financial stability in Armenia are mitigated by banks' strong capital and liquidity positions, according to the international ratings agency Fitch Ratings.

Become a Unibank shareholder and benefit from an attractive investment opportunity

Individuals and legal entities can acquire ordinary shares from Unibank’s new share issue until September 9, 2026, at a placement price of AMD 390 per share.

Fitch Expects Central Bank of Armenia to Raise Refinancing Rate

International rating agency Fitch Ratings expects a temporary increase in the refinancing rate in Armenia.

LATEST NEWS

spot_imgspot_imgspot_img