{"id":99110,"date":"2016-06-17T14:28:01","date_gmt":"2016-06-17T14:28:01","guid":{"rendered":"https:\/\/armbanks.am\/2016\/06\/17\/244852\/"},"modified":"2024-12-15T13:24:17","modified_gmt":"2024-12-15T13:24:17","slug":"araratbank-plans-to-earn-800-million-drams-in-net-profits-in-2016","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/06\/17\/99110\/","title":{"rendered":"Araratbank plans to earn 800 million drams in net profits in 2016"},"content":{"rendered":"<p><strong>YEREVAN, June 17. \/ARKA\/<\/strong>. In 2015 Araratbank earned 942 million drams in net profit, the chairman of the bank\u2019s board Ashot Osipyan told an annual meeting of shareholders today.<\/p>\n<p>&#8220;In 2015 we learned to work in difficult conditions and our efforts were acknowledged by The Global Finance and the European Bank for Reconstruction and Development (EBRD),&#8221; Osipyan said.<\/p>\n<p>According to deputy board chairman Davit Harutyunyan, in 2015 the bank&#8217;s assets decreased by 4.6% to 132 billion drams after a major client withdrew his funds.<\/p>\n<p>He said credit investments of the bank last year increased by 0.15% to about 66 billion drams, liabilities amounted to 110 billion drams and the capital increased by 3.7% to 22.4 billion drams due to retained earnings.<\/p>\n<p>He also noted that the book value per share grew to\u00a0 17,590 drams against nominal value of 5,000 drams.<\/p>\n<p>The bank plans to earn this year 800 million drams in net profit , Ashot Osipyan said, down from 942 million earned in 2015.<\/p>\n<p>&#8220;The reduced forecast stems from our\u00a0 conservative policy. We use\u00a0 a very high risk management system. The most important thing for us is\u00a0 to preserve stability and secure the bank against all possible risks,&#8221;\u00a0 Osipyan said.<\/p>\n<p>According to Vakhtang Abrahamyan , deputy chairman of the Central Bank, Araratbank has been demonstrating steady growth over the last years. Particularly,\u00a0 over the past 5 years its assets increased by 16%, deposits and lending rates grew by 20 % with about 50% of the bank&#8217;s assets being channeled into financing the economy.<\/p>\n<p>&#8220;Araratbank is one of the best banks in Armenia in terms of loan repayment, which means effective management&#8221;, said Abrahamyan.-0-<\/p>\n<p>Araratbank founded in 1991 is owned by Flash Company (64.25%), EBRD (25%) and RURAL IMPULSE FUND II SA SICAV SIF (10%). Araratbank joined NASDAQ OMX Armenia in 2009 January.<\/p>\n<p>In the first quarter of 2016, the bank&#8217;s assets stood at 130.6 billion drams (a decline of 1% since the beginning of the year; liabilities stood at 107.9 billion drams (a decline of 1.45%), total capital was worth 22.7 billion drams (up 1%) and profit for the first quarter was 176.7 million drams. ($1- 477. 86 drams). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2015 Araratbank earned 942 million drams in net profit, the chairman of the bank\u2019s board Ashot Osipyan told an annual meeting of shareholders today<\/p>\n","protected":false},"author":1,"featured_media":157317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12162,14001],"class_list":{"0":"post-99110","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-araratbank","10":"tag-net-profit"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/99110","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=99110"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/99110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157317"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=99110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=99110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=99110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}