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CREDIT PORTFOLIO OF ARARATBANK REACHES 11.5BLN DRAMS IN JANUARY-MAY 2009
ARKA
June 5, 2009
YEREVAN, June 5. /ARKA/. As of June 2009 the credit portfolio of
Armenian Araratbank has reached 11.5bln AMD, the bank's Chairman of
the Executive Board, CEO Ashot Osipyan told reporters on Friday.
According to him the bank continues issuing credits in all directions
but agriculture which is not in priorities of the bank.
Osipyan noted Araratbank is actively participating in crediting
program of the German Developmetn Bank (KfW) as well as in World
Bank's program on financing small and medium businesses.
"We continue issuing credits in full terms, but as compared to the
previous period our credit policy is more reserved, more selective,
requirements for crediting is higher,' said the banker.
In 2008 the credit portfolio of Araratbank amounted to 12,189bln AMD,
an increase of 4.76bln AMD or 32.9% against 2007.
Araratbank OJSC, legal successor of Armsvyaz Bank, was established
on September 2, 1991 and licensed (N4) on October 31, 1996.
The European Bank for Reconstruction and Development (EBRD) holds 25%
shares of Araratbank.
The 74.1% of the bank's authorized capital belongs to principal
shareholder, businessman and owner of Flesh Company Barsegh Beglaryan.
By March 31, 2009, the banks assets had reached 28bln AMD, with capital
being 7.6bln AMD, liabilities 20.3bln AMD, credit investments 14.4bln
AMD and net loss 14mln AMD in January-March 2009.
ARKA
June 5, 2009
YEREVAN, June 5. /ARKA/. As of June 2009 the credit portfolio of
Armenian Araratbank has reached 11.5bln AMD, the bank's Chairman of
the Executive Board, CEO Ashot Osipyan told reporters on Friday.
According to him the bank continues issuing credits in all directions
but agriculture which is not in priorities of the bank.
Osipyan noted Araratbank is actively participating in crediting
program of the German Developmetn Bank (KfW) as well as in World
Bank's program on financing small and medium businesses.
"We continue issuing credits in full terms, but as compared to the
previous period our credit policy is more reserved, more selective,
requirements for crediting is higher,' said the banker.
In 2008 the credit portfolio of Araratbank amounted to 12,189bln AMD,
an increase of 4.76bln AMD or 32.9% against 2007.
Araratbank OJSC, legal successor of Armsvyaz Bank, was established
on September 2, 1991 and licensed (N4) on October 31, 1996.
The European Bank for Reconstruction and Development (EBRD) holds 25%
shares of Araratbank.
The 74.1% of the bank's authorized capital belongs to principal
shareholder, businessman and owner of Flesh Company Barsegh Beglaryan.
By March 31, 2009, the banks assets had reached 28bln AMD, with capital
being 7.6bln AMD, liabilities 20.3bln AMD, credit investments 14.4bln
AMD and net loss 14mln AMD in January-March 2009.