YEREVAN, October 16. /ARKA/. Loan portfolio of Ardshininvestbank rose by 23.5% to 166.1 billion drams in the nine months of 2013, the bank’s press office reported.
Retail loan portfolio reached 50.3 billion drams, a 13% increase over nine months, with its share in the overall loan portfolio at 30%. Lending to enterprises grew by 28.7% to 115.8 billion drams in January-September (70% of the overall loan portfolio).
As of the end of September, the share of non-performing loans (NPL) with more than 90 days’ delay in payment was 2.7% in the overall loan portfolio.
The bank’s assets were 262 billion drams as of October 1, an increase of 31.9% from the beginning of the year; bank’s equity capital rose by 12.7% to 40.4 billion drams in the period.
Return on Average Equity (ROAE) and Return on Average Assets (ROAA) were 14.5% and 2.4% respectively.
In the 9 months the bank managed to attract an additional of $5 million from World Business Capital (WBC), $6 million from Asian Development Bank (ADB) and €1.8 from Atlantic Forfeiting.
As of October 1 2013, the bank’s client database had 9,640 legal entities and 241,913 individuals, 36% increase against the end of 2012 level. There were 308 sales points (including ATMs and POS terminals) as of October 1.
Sustainable growth recorded by the Bank has recently been affirmed by Moody’s Investors Service, which raised the outlook of the bank’s ratings to “stable”, says the report.
Ardshininvestbank received its license for banking activities from the Central Bank of Armenia on February 27, 2003. The bank has 49 branches in Armenia, six in Nagorno-Karabakh Republic and one office in Paris. ($1=AMD 407.75). –0–
