ARARATBANK REPORTS 30 PERCENT INDICES GROWTH
ARKA
December 15, 2009
Yerevan
YEREVAN, December 15, /ARKA/. Araratbank said its indices have grown
by 30 % this year, including assets and credit investments. A deputy
executive director of the bank, David Harutyunian, said the bank’s
assets stand now at 40 billion Drams, its credit portfolio at 15.5
billion Drams and incomes at 350 million Drams.
Speaking at a news conference Monday at Novosti international press
center, he attributed the growth to ‘good management.’
Araratbank (previously Armsvyazbank) was established in 1991; 25%
of its shares are owned by the European Bank of Reconstruction and
Development (EBRD) and the rest by Barsegh Beglarian, the biggest oil
products trader in Armenia. Araratbank joined NASDAQ OMX Armenia stock
exchange in 2009 January. The Bank has 27 branches in Armenia. ($1 –
383.63 Drams).