YEREVAN, October 1. / ARKA /. Araratbank’s net profit in the first half of the year amounted to 1.859 billion drams, its deputy executive director, David Harutynian, told a news conference today.
“We closed last year with about 2.2 billion drams net profit. This year we expect this indicator to be higher,” he said, adding that the bank saw growth in all major indicators in the first six months.
According to Harutyunyan, the bank’s capital in the first half increased by 14.5% to 14 billion drams. He explained increase by accumulated profits.
“Within six months, the bank’s assets grew by 25% to around 109.4 billion drams. Its outstanding loan portfolio amounted to 48.5 billion drams having grown by 26.3%. We have also seen a rise in individual savings deposits by about 11% «he said.
Mr. Harutyunian also said that in terms of return on equity (ROE), which was 28.3% in the first six months, Araratbank was the first among all other banks.
Some 74.18% in the bank is owned by Barsegh Beglarian, the owner of Flash oil trader, 25% are held by EBRD ($ 1 – 406, 25 drams.) -0-
