Tuesday, July 26 2011 19:03
ARARATBANK outstrips targeted net profit by 61%
ArmInfo. At the end of the first half of 2011, ARARATBANK outstripped the targeted net profit by 61%. The net profit of the bank amounted to 1.106 billion AMD. The press service of ARARATBANK told ArmInfo that this index has annually grown by 78%.
According to the source, by June 30 2011 the assets of ARARATBANK amounted to 68.4 billion AMD, having annually increased by 60.18%. The credit portfolio of the bank annually increased by 53.77%, and by 27% over Jan-June 2011, and totaled 32.2 billion AMD by 1 July 2011. The priorities in the crediting strategy remain the small and medium enterprises.
In order to activate the crediting of the given segment of economy, ARARATBANK signed a credit agreement worth 10 mln USD with European Fund for Southeast Europe, and attracted 752 million AMD from the European Bank for Reconstruction and Development. In 2011 the bank is going to attract 20 mln USD more from various international structures to direct them to micro- crediting and financing of small and medium enterprises.
The total liabilities of ARARATBANK annually increased by 72.66% to 57.2 billion AMD by 1 July 2011. The time deposits of the bank grew by 64.4% to 12.9 billion AMD. Over the same period the number of plastic cards provided by the bank increased by 41.3% to 63696. The number of ARARATBANK customers grew by 28.07%.
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