Tuesday, March 16 2010 13:40

Central Bank of Armenia registers new branch of ARARATBANK


Armnfo. The Armenian Central Bank registered a new branch of ARARATBANK - "Armavir" on March 15, the CB told ArmInfo.

Earlier ARARATBANK Board Chairman Ashot Osipyan told ArmInfo that the bank is expected to open nearly 10 new mini-branches in Yerevan and in the regions.

Over the last two years ARARATBANK increased the number of its branches from 2 to 27. As of Jan 1 2010 the bank's assets amounted to 41.3 billion drams (up 39.5% per year), the share of the credit portfolio in assets totaled nearly 40% or 16.2 billion drams (up 33% per year). The total capital of the bank grew 4% to 7.8 billion drams in 2009, liabilities grew 51.6% to 33.5 billion drams. Flash oil trader holds a 74.1% stake in the bank and the EBRD - 25%+1 share.
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