Saturday, November 13 2010 12:19
In 2011 Ardshininvestbank to start aggressive retail lending activities
ArmInfo. In 2011 Ardshininvestbank will start aggressive retail lending activities, Acting Head of the Retail Lending Development Department of Ardshininvestbank David Arakelyan said in an interview to ArmInfo.
He said that the bank is searching for niches for consumer lending and is trying to fill them. According to the law, consumer loans should be provided in AMD, except for card and mortgage credits.
"We are solving the AMD problem by attracting deposits and, in case of mortgage and agricultural loans, by cooperating with refinancing organizations. We had a similar problem with auto and some other loans but in 2009 we accumulated sufficient liquidity. So, the level of AMD liquidity was high," Arakelyan said.
According to the Ranking of the Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as of Oct 1 2010 the loan book of Ardshininvestbank totalled 61.9bln AMD (7th place) or 53.8% of the bank's assets. 31.2% of the loans were consumer loans, 25.2% - industrial loans. Trade received 14%, public catering and services - 9%, agriculture - 6.7%, construction - 5.8%, housing - 3%. The amount of auto loans totalled 4bln AMD (6.5%). In Jan-Sept 2010 the amount of agricultural loans grew by 4 times. During the same period the net profit totalled 1.5bln AMD. Ardshininvestbank has 55 branches (the second biggest branch network in Armenia).
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