Friday, July 1 2011 17:55
Credit portfolio of Anelik Bank amounts to 35.3 bln AMD
ArmInfo. Over Jan-May 2011 the credit portfolio of Anelik Bank grew by 5.8 bln AMD or by 20% to 35.3 bln AMD. The press service of the bank told ArmInfo that in April-May 2011 the portfolio increased by almost 1 bln AMD.
"The specified growth is conditioned by the consistent implementation of business crediting, as well as by resumption of provision of various consumer loans. The bank again provides a full spectrum of products meant for individuals, including auto credits, loans for acquisition of commodities by installments, mortgage, students' and other kinds of consumer loans", said Head of Credit Department of Anelik Bank Hayk Grigoryan. According to him, the bank has been providing students' loans since late 2010.
"Now I can already state that with provision of this type of loans, our bank occupies its own place in the banking system, to which the advertising campaign of the students' loans held in Jan-March 2011 considerably contributed. We attach mush significance to the given type of banking products, because it is future-oriented", he stressed.
At the same time, Grigoryan pointed out that the bank does not reduce the business crediting, and a considerable part of the credit portfolio growth is conditioned by the increase in provision of loans to economic entities. According to him, Anelik Bank is going to increase its provision of crediting by 11 bln AMD to 41 bln AMD in 2011.
"If we maintain the pace of the previous months, we will ensure the target index by late 2011", he said.
To recall, in his recent interview with ArmInfo, Chairman of Board of Anelik Bank Samvel Chzmachyan said that one of the strategic tasks of the bank today is to ensure credit portfolio growth by reducing the share of large loans and increasing small and medium business financing.
"It is no secret that the loans to small and medium enterprises are provided at more profitable rates for the bank than those provided to large business", he said.
At the same time, Chzmachyan said that Anelik Bank intends to increase its assets to 70-71 bln AMD by late 2011, and upon completion of 2011 to obtain a profit of 800 mln AMD, while in 2010 it was about 500 mln AMD.
According to the Ranking of Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as of 1 April 2011, the share of provision of crediting in the structure of assets of Anelik Bank made up 57.6%, total capital - 15.8 bln AMD, assets - 62.9 bln AMD, liabilities - 47.1 bln AMD. To note, since mid 2009 51% of Anelik Bank's shares have belonged to Credit Bank (Lebanon).
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