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ARDSHININVESTBANK'S NET PROFIT GROWS BY 56.9% IN 2005
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. In 2005, Ardshininvestbank showed an
unprecedented growth in all its indices, taking first and second
places by these indices in the RA banking system. Chairman of
Ardshininvestbank Board Aram Andreasian said during the April 18
press conference that in the year under review, the bank's assets
grew by 42% on 2004 and amounted to 54.3 bln drams, which made up
12.04% of the overall assets of the RA banking system. The overall
capital of Ardshininvestbank grew by 63.3% to 88.8 bln drams,
while its liabilities - by 38.5% to about 45.4 bln drams. The net
profit of the bank increased by 56.9% to 2.3 bln drams. The credit
investments of Ardshininvestbank made 25.2 bln drams in 2005,
which exceeds the respective index of the previous year by about
35%. A. Andreasian pointed out a considerable growth in the amount of
consumer credits. Only in Ardshininvestbank, these credits grew by 23%
in the year under review and made 9.4 bln drams. According to him,
it shows that the financial position of 30-35% of the population has
improved. It was noted that the bank ranks first by the amount of time
deposits attracted from natural persons and legal entities, which,
in the words of A. Andreasian, is indicative of the population's trust
in the bank. Addressing the problem of high interest rates of credits,
A. Andreasian said that the prices of financial resources has risen on
international markets. At the same time, he assured that despite it,
the interest rates of credits continue to decline in Armenia.
By the results of 2005, Ardshininvestbank was the biggest tax payer
- bank.
The bank paid taxes of a total of about 1 bln drams (about 2.22 mln
USD) to the state budget. Ardshininvestbank has 49 branches (two in
the Nagorno Karabakh Republic) and an office in Paris.
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. In 2005, Ardshininvestbank showed an
unprecedented growth in all its indices, taking first and second
places by these indices in the RA banking system. Chairman of
Ardshininvestbank Board Aram Andreasian said during the April 18
press conference that in the year under review, the bank's assets
grew by 42% on 2004 and amounted to 54.3 bln drams, which made up
12.04% of the overall assets of the RA banking system. The overall
capital of Ardshininvestbank grew by 63.3% to 88.8 bln drams,
while its liabilities - by 38.5% to about 45.4 bln drams. The net
profit of the bank increased by 56.9% to 2.3 bln drams. The credit
investments of Ardshininvestbank made 25.2 bln drams in 2005,
which exceeds the respective index of the previous year by about
35%. A. Andreasian pointed out a considerable growth in the amount of
consumer credits. Only in Ardshininvestbank, these credits grew by 23%
in the year under review and made 9.4 bln drams. According to him,
it shows that the financial position of 30-35% of the population has
improved. It was noted that the bank ranks first by the amount of time
deposits attracted from natural persons and legal entities, which,
in the words of A. Andreasian, is indicative of the population's trust
in the bank. Addressing the problem of high interest rates of credits,
A. Andreasian said that the prices of financial resources has risen on
international markets. At the same time, he assured that despite it,
the interest rates of credits continue to decline in Armenia.
By the results of 2005, Ardshininvestbank was the biggest tax payer
- bank.
The bank paid taxes of a total of about 1 bln drams (about 2.22 mln
USD) to the state budget. Ardshininvestbank has 49 branches (two in
the Nagorno Karabakh Republic) and an office in Paris.