YEREVAN, June 14. /ARKA/. Armenian Araratbank earned 3.3 billion drams in net profit last year, a 50.5% surge from 2011, according to its CEO Ashot Osipyan, who told an annual conference of shareholders today that the bank had over-fulfilled its strategic program by 140% achieving an increase in all indicators.
“The bank has reinforced its standing in the banking sector of the country over the last year and more than 297 million drams of that amount was paid as dividends to shareholders,’ he said.
According to Osipian, the assets of the bank increased by 29.8% compared to 2011, reaching 113. 7 billion drams, while the lending increased by 39.8% to 53.662 billion drams. At the same time the bank’s liabilities in the reporting period increased by 29.1% as compared to 2011, reaching 97.255 billion drams.
Osipyan said also the amount of deposits amounted to 63. 279 billion drams, a 25.4 percent increase from the previous year of 2011. Also its total capital increased by 34.4% to 16.4 billion drams, mainly due to profits.. According to the banker, the number of banking cards issued by Araratbank totaled 103,015, a 20 percent more than in 2011.
“The number of bank customers reached 167,103, an increase of 18.6% compared to the year 2011”, he said. To date, the bank has 42 branches in the capital and regions of the country, of which 4 were opened in 2012.
Some 74.18% of the bank is owned Barsegh Beglaryan, the owner of the biggest oil trader Flash and 25% by the European Bank for Reconstruction and Development (EBRD). In 2009 January the bank joined NASDAQ OMX Armenia stock exchange. ($ 1 – 411.64 drams). -0 –
