{"id":72092,"date":"2014-02-26T14:09:49","date_gmt":"2014-02-26T14:09:49","guid":{"rendered":"https:\/\/armbanks.am\/2014\/02\/26\/240353\/"},"modified":"2024-12-15T13:10:06","modified_gmt":"2024-12-15T13:10:06","slug":"armenian-development-banks-assets-tripled-to-more-than-70-billion-drams","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2014\/02\/26\/72092\/","title":{"rendered":"Armenian Development Bank\u2019s assets tripled to more than 70 billion drams"},"content":{"rendered":"<p><strong>YEREVAN, February 26. \/ARKA\/.<\/strong> Armenian Development Bank has tripled its assets over three years to more than 70 billion drams, Karen Sargsyan, chairman of the bank\u2019s board, said Wednesday at a news conference while summarizing the bank\u2019s activity for 2013.<\/p>\n<p>\u201cThe bank\u2019s assets totaled about 24.7 billion drams three years ago, and it means they have grown approximately three times,\u201d he said.<\/p>\n<p>The bank\u2019s liabilities exceeded 60 billion drams by the end of 2013. Its assets grew 37.4% over the year and liabilities 42.8%.<\/p>\n<p>\u201cArmenian Development Bank is third among the country\u2019s banks in building up assets and third in increasing liabilities \u2013 it showed 64% and 78% growth respectively,\u201d Sargsyan said.<\/p>\n<p>He also said that the bank\u2019s loan portfolio amounted to about 37 billion in 2013 against 34.9 billion in 2012. Lending to small and mid-scale businesses made up 60% of the bank\u2019s loan portfolio in 2013.<br \/>\nThe bank had 25,000 clients in 2013 \u2013 29% growth since the beginning of the year.\u00a0 It earned 881.6 million in profits in 2013 \u2013 37% growth, compared with the previous year.<\/p>\n<p>Answering ARKA News Agency\u2019s question, Sargsyan said the bank intended to offer a new range of services to the market, particularly mortgage lending.<\/p>\n<p>The bank is also going to open new branches \u2013 two in Yerevan\u2019s Kentron and Malatia-Sebastia administrative districts and one in a province. Now it has seven branches.<\/p>\n<p>Armenian Development Bank was established in 1990. The bank\u2019s shareholders are Ruben Hayrapetyan (19.98%), Araik Mekhakyan (16.95%) and Grikor Termenjyan (16.03%). 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