NERSES KARAMANUKYAN APPOINTED CHAIRMAN OF ARDSHININVESTBANK BOARD

ArmInfo
2009-07-18 16:28:00

ArmInfo. Nerses Karamanukyan was appointed Chairman of
Ardshininvestbank Board on July 18. Previously N. Karamanukyan
headed the IFC Office in Armenia, Ardshininvestbank press-service
told ArmInfo.

Chairman of Ardshininvestbank Council Karen Safaryan said
N. Karamanukyan will continue the best traditions of the bank. For his
part, N. Karamanukyan pledged to use his best experience and knowledge
at the bank to maintain the achieved indicators and achieve better
ones. "The bank has highly-qualified and professional specialists
who will be involved in implementation of serious and important
projects. The bank will further take into account the global financial
crisis and the peculiarities of our country to further provide our
clients with the best conditions of banking services," he said.

N. Karamanukyan replaced Aram Andreasyan who had been heading the bank
since its reorganization in 2003. Aram Andreasyan left his position
because of health problems and refused from the membership of the
Bank Council.

At present Ardshininvestbank occupies the leading positions in the
ranking of Armenian banks and has one of the largest branch networks
in the country: 55 branches, including 13 in Yerevan, 36 in regions
and 6 in the NKR. The bank is represented also in Paris.

The majority shareholders of the bank are Business Investments Center
LTD (86.82%) and the IFC (10%). Among the minority shareholders
are representatives of the bank’s top management. The total capital
of the bank made up 26 billion drams as of July 1 2009, including
13.8 billion drams authorized capital and almost 8 billion drams
accumulated profits. The net profit for the first half totaled almost
2 billion drams. The assets of the bank totaled 115 billion drams
including 63.5 billion was the share of credits and other loans and
25.7 billion drams cash and equivalents. The bank is specializing in
financing of large industrial facilities at the same time actively
developing retail services.

From: Emil Lazarian | Ararat NewsPress