ARMENIAN ANELIK BANK INTENDS TO END THIS YEAR WITH PROFIT

/ARKA/
July 8, 2009
YEREVAN

YEREVAN, July 8. /ARKA/. Armenian Anelik Bank intends to end this
year with profit, Samvel Chzmachyan, chairman of the bank’s board,
said at a press conference on Monday.

In his words, the bank is going to take money from the Russian bailout
loan for Armenia.

Anelik Bank CJSC built up its capital by AMD 15 billion thanks to
strategic alliance with Lebanese Credit Bank, whose investments in
the bank’s capital will total AMD 9 billion.

Tarek Khalife, chairman of Credit Bank’s directorial board, said that
profit is a short-term goal, while the bank is focused on long-term
goals.

Anelik Bank was established on July 9, 1990 and registered on
October 1991.

In October 1996, the bank received a general license from Central
Bank of Armenia.

Four individuals held the bank’s shares.

The bank’s assets totaled AMD 38.2 billion, liabilities AMD 32.5
billion, credit investments AMD 20.4 billion and liabilities to
clients AMD 12.4 billion by March 31, 2009.

Now, 51% of Anelik Bank’s shares belong to Lebanese Credit Bank and
four individuals hold 12.25% each. They held 25% before.

Credit Bank is one of the leading banks of Lebanon. The bank’s assets
total $1 billion.

The bank is a member of Union of Arab Banks.

Credit Bank’s appearance in Armenia was due to development of Arme
nian-Lebanese relations and the Arab world’s interest in Armenian,
Russian and CIS markets. ($1 = AMD 361.27).