CONVERSE BANK TAKES FIRST PLACE BY ITS OVERALL CAPITAL IN FIRST
QUARTER OF 2006
YEREVAN, MAY 12, NOYAN TAPAN. In the first quarter of 2006, Converse
Bank was in first place by its overall capital in the RA banking
system. The newly appointed director general of the bank Artak
Hanesian stated during the May 12 press conference that in the
indicated period, the overall capital grew by 6.2% to about 9.5 bln
drams (about 21 mln USD). The bank’s assets increased by 10.7% over
the same period and made 46.2 bln drams, while crediting volumes – by
2.9% to 17.6 bln drams. By these indices Converse Bank took 3rd and
5th places respectively in the RA banking system. The bank’s profit
amounted to 612.8 mln drams. The total amount of transfers made by
natural persons grew by 24.8% on the same quarter of last year and
made 34.7 mln USD. According to A. Hanesian, in the period under
review, the share of mortgage credits made 372 mln drams, which is
more than half the programmed index. Converse Bank currently provides
credits repayable over 10 years at an annual interest rate of 13%. In
the words of the bank’s director general, these terms are quite
favorable for Armenia. In the first quarter of 2006, VIP MONEY
TRANSFER and INTEREXPRESS transfer systems, a new form of deposit – a
cumulative one, as well as provision of loans under the collateral of
real estate and cars were introduced in Converse Bank.
From: Emil Lazarian | Ararat NewsPress
