Wednesday, June 22 2011 19:27

ARARATBANK considers possible creation of a subsidiary leasing company


ArmInfo. ARARATBANK considers possible creation of a subsidiary leasing company, Chairman of Board of ARARATBANK Ashot Osipyan said during the annual assembly of the bank's shareholders on Wednesday.

According to him, the bank has already carried out leasing transactions worth USD 2 million in the pilot regime. "In case of successful implementation of the pilot stage including a wide spectrum of leasing services, it is not ruled out that a company will be opened", he said. The bank has also carried out financial leasing worth USD 700 thousand and concluded leasing transactions on medical equipment, real estate, printing machines.

Osipyan thinks that the entry to the leasing market is conditioned by the new concept of the bank envisaging stimulation of the primary market, introduction of new banking services. "At present the banking system experiences tough competition. For this reason we are going to reveal and cover the market spheres, which are still vacant", he said.

At the same time, Osipyan said that within the next 3 years the bank intends to expand its branch network to 65 branches. By September 2011 the bank will open three new branches (1 in Goris, and 2 in Yerevan). Today the bank has 34 branches in Armenia and Karabakh.
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