Thursday, March 3 2011 12:33

NASDAQ OMX ARMENIA Announces Ardshininvestbank cjsc Best Exchange Member in Credit Resources Market


ArmInfo. NASDAQ OMX ARMENIA has announced Ardshininvestbank cjsc Best Exchange Member in Credit Resources Market. On March 1, 2011, NASDAQ OMX Armenia, part of the NASDAQ OMX Group, Inc. at a special ceremony announced winners of the Best Member Awards 2010, held for the first time ever in Armenia.

Vice Chairman of the Armenian Central Bank Nerses Yeritsyan presented the award to Head of Ardshininvestbank Department for Bank Operations and Cash Flows, Movses Eloyan.

Ardshininvestbank told ArmInfo the bank won the title of Best Exchange Member in Credit Resources Market, being meanwhile nominated for the "Best Exchange Member in Foreign Currency Market" Award. The other best nominees for "Best Exchange Member in Credit Resources Market" Award were Armbusinessbank cjsc and Armeconombank ojsc.

Best Member Awards by NASDAQ OMX Armenia was introduced in 2011 to encourage those investment services provider companies and exchange members actively involved in trading on various Exchange markets, participating in activities dedicated to developing and improving Armenian capital markets, as well as keeping the code of professional ethics.

Award is granted once a year among the Exchange member companies based on the results of each year as of December 31. According to the results of 2010 the Award was granted for the following nominations: Best Exchange Member in Corporate Securities Market; Best Exchange Member in Government Bonds Market; Best Exchange Member in Credit Resources Market; Best Exchange Member in Foreign Currency Market.

Capital Asset Management cjsc was awarded for the Best Exchange Member in Corporate Securities Market. Armswissbank cjsc won the title of the Best Exchange Member in Government Bonds Market. VTB Bank (Armenia) cjsc was recognized as the Best Exchange Member in Foreign Currency Market.

Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) ranked Ardshininvestbank the 5th in terms of cash flows as of Jan 1 2011 - over 20 bln drams (significant growth of financial flows). The loan portfolio of the bank totaled nearly 74 bln drams with 33% growth for 2010 and 20% growth for Q4. Over 70% of the loan portfolio was lending to the economy sectors (up 44% for 2010 and 28% for Q4). Industrial loans totaled nearly 35% - 2nd position (44% growth in absolute term for 2010). The bank was the leader in terms of SME finance - over 60% of its loan portfolio. The bank was on the 3rd position in terms of time deposits - some 46 bln drams (mostly personal deposits - 4th position). The bank was on the 2nd position in terms of the branch network - 55 branches throughout Armenia and in NKR.

The majority shareholders of Ardshininvestbank are Business investments Center - 87.23% and IFC - 10%.
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