ARDSHININVESTBANK ANNOUNCED 2006 YEAR OF CAPITALIZATION

Yerevan, April 18. ArmInfo. One of the Armenian leaders in bank
sphere, Ardshininvestbank, has announced the year 2006 a Year
of Capitalization. Aril 18 assembly of CJSC “Ardshininvestbank”
shareholders made a decision to invest $10 million in the bank’s
authorized capital from the last year’s profit of the shareholders.

Aram Andreasyan, Chairman of Ardshininvestbank Board, said at
a press-conference Tuesday that due to its 4,898.2 million AMD
undistributed profit, the bank was in the lead among the 21 commercial
banks in Armenia in 2005. The bank occupied the second position due to
the following indicators: total assets (53,130.1 million AMD), total
capital (9.408.7 million AMD), liabilities (43,721.4 million AMD),
financial investment (7,901.1 million AMD), provision of crediting
(22,813.0 million AMD).

Ardshininvestbank press-service announced that under the analysis of
the banking system drawn by the Agency of Rating Marketing Information
(ARMINFO) Ardshininvestbank alongside with HSBC Bank Armenia occupied
the second position as to the key figures specifying the bank’s
activity in the so-called nomination “universal bank.”

Ardhininvestbank rose by one position since last year. It is
noteworthy that the first position is still vacant. During the last
year, the bank’s assets rose by 42%, with average growth in the bank
system being 22%. The bank’s total capital grew by 63,3%, the average
growth rate in the bank system being 47.4%. Liabilities grew by 38.5%,
the average growth in the bank system being 16.6%. Net profit growth
rate made up 26.9%, whereas in average in bank system this indicator
fell by 28.1%. Of 13 distinguishing factors brought by ARMINFO,
Ardhsininvestbank is in the lead on 5 ones: share in past-due loans
in the advances portfolio; the quality of the advances portfolio;
stability of financial resources; financial stability level; income
possibility.

The bank was founded at the beginning of 2003 due to the RA CB
license No.83. The bank is represented by 49 branches throughout
Armenia and NKR, as well as by a branch in Paris. Over 1,000 people
are engaged in the system of Ardshininvestbank. The bank participates
in the World Bank international programs on agricultural reform and
enterprise development, in the programs of the International Migration
Organization, in the governmental program on credit guarantees of
SMEs. The bank intends to participate in international program on
development of rural areas and construction of small hydro-power
plants.

From: Emil Lazarian | Ararat NewsPress