Friday, May 7 2010 11:07
Byblos Bank Armenia to increase credit portfolio twofold
ArmInfo. Byblos Bank Armenia is going to increase credit portfolio twofold till the end of the current year, the head of Finances and Administration Department of Byblos Bank Armenia, Hayk Stepanayan, told Arminfo correspondent. To recall, as of 1 January 2010 the credit portfolio of Byblos Bank Armenia amounted to 14.8 bln drams ($39.2 mln).
He also added that besides their own funds resources of international structures will be directed to reaching of the goals put. At present they are negotiating with these structures and the first contracts will be made over the first half-year 2010. The bank expects to attract about $10 mln for each programme on financing small and medium-sized business.
In general, as Stepanyan said, the current year has started successfully for the bank on the line of retail as well as corporative business. Thus, in the 1Q 2010 the bank attracted several big corporate customers, as a result of which its assets grew almost by 30% having reached 22 bln drams, and credit portfolio grew by 25% - up to 15 bln drams. "We are planning to continue the course taken over the entire current year, to get profit and to increase the number of our offices", - he said.
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