YEREVAN, March 14. \/ARKA\/. Tigran Davtyan, executive director of Converse Bank, said Monday that this Armenian bank\u2019s proceeds would reach AMD 2 billion by the end of this year.<\/p>\n
\u201cThe bank\u2019s profit amounted to AMD 1.4 billion in 2010 and is expected to reach AMD 2 billion this year,\u201d he said.<\/p>\n
Davtyan said that Converse Bank\u2019s loan portfolio reached AMD 45 billion by late December 2010.<\/p>\n
He said that the bank would try to enlarge its loan portfolio, but it would be quite difficult to do it under the current circumstances.<\/p>\n
\u201cIn the end of 2010, we projected at least a 20-percent enlargement, but now we see that it will be not so easy to ensure the projected growth, since the central bank\u2019s inflation-curbing policy won\u2019t spur lending,\u201d he said.<\/p>\n
In his words, if current the same situation remains also in the future, five-to-ten-percent growth will be a good result, taking into account clients\u2019 problems with solvency.<\/p>\n
Davtyan said that non-performing loans in Converse Bank constitute 7-8% of the bank\u2019s loan portfolio.<\/p>\n
He said that so large share of bad loans in the bank\u2019s portfolio is due to consequences of the 2009 crisis.<\/p>\n
\u201cBesides, we are trying to settle matters amicably, without suing borrowers,\u201d he said.<\/p>\n
The Converse Bank was established in 1993.<\/p>\n
Advanced Global Investments (Argentina) holds 95% of the bank\u2019s shares, and the remaining 5% belong to Armenian Apostolic Church.<\/p>\n
The bank has 28 offices with 600 employees in 13 cities in Armenia. Two of these offices provide postal-banking services. ($1= AMD 367.85). –0–<\/p>\n","protected":false},"excerpt":{"rendered":"
Tigran Davtyan, executive director of Converse Bank, said Monday that this Armenian bank\u2019s proceeds would reach AMD 2 billion by the end of this year.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12491,12299,308],"class_list":{"0":"post-20708","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-banks-en-en","7":"category-news","8":"tag-armenia-2","9":"tag-converse-bank","10":"tag-profit","11":"tag-308"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/20708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=20708"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/20708\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=20708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=20708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=20708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}