YEREVAN, June 26. /ARKA/. Araratbank will pay no dividends for 2014 to shareholders.
The decision was made at a regular annual meeting of the bank’s shareholders by majority of votes.
“A part of the net profit, AMD 600 million, will be used for filling the reserve fund, and the remaining money will be kept as undistributed profit,” David Harutyunyan, deputy chairman of the bank’s board, is quoted by the bank’s press office.
The year 2014 was successful for Araratbank, he said, the bank accounted for growth in all its indicators.
In particular, its assets grew 10.5% to AMD 138.4 billion, loan portfolio 10.6% to AMD 66 billion, liabilities 10.5% to AMD 116.69 billion and capital 10.4% to AMD 21.6 billion.
The bank’s net profit for 2014 amounted to AMD 2.8 billion – a 6.6% decline.
Araratbank, the heir of Armsvyaz Bank, was established in 1991. European Bank for Reconstruction and Development holds 25% of the bank’s shares, 64.24% of the shares belong to Flash company and 10% to RURAL IMPULSE FUND II SA SICAV SIF.
On January 30, 2009, the bank joined NASDAQ OMX Armenia Stock Exchange. —–0—-
