Monday, July 11 2011 14:34

Ardshininvestbank plans to increase retail portfolio to 40 bln drams within 2 years


ArmInfo. Ardshininvestbank plans to increase the portfolio of retail loans to 40 bln drams within 2012-2013. Chairman of Ardshininvestbank Board Karapet Gevorgyan told ArmInfo the given indicator is included in the strategic development plan of the bank.

He said the bank launched retail business development policy in 2010. Retail lending gather pace in early 2011 and the bank's retail loan portfolio reached 29.2 bln drams in early June 2011. In particular, the share of gold-secured loan is the biggest (almost 17 bln drams) in the retail loan portfolio of the bank.

K. Gevorgyan said that to achieve the planned indicator, it is necessary to take a number of measures, including to increase the number of sales points, introduce new credit products, boost cooperation with the entities engaged in the sale of goods and provision of services, reduce the cost value of loans, and upgrade the professional skills of the staff also though creation of incentives.

Ranking of Armenian Commercial Banks as of March 31 2011 prepared by the agency of Rating Marketing Information (ArmInfo) ranked Ardshininvestment the 3rd in terms of retail loans (personal) - 25.5 bln drams (up 30% versus March 2010 and almost 20% for Q1 2011). The bank took the 2nd position in terms of consumer loans (up 18% for Q1 2011) and the 3rd position in terms of car loans. The mortgage portfolio of the bank grew 56% per annum and 16% for Q1 2011 to 2.6 bln drams. The total loan portfolio of the bank grew 63% per annum to 78.8 bln drams.

The majority shareholder of Ardshininvestbank is Center of Business Investments LLC with 87.23% and IFC with 10%. The bank serves 55 branches, including 13 in Yerevan, 36 in the regions and 6 in NKR as well as a representative office in Paris.
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