Wednesday, November 9 2011 13:19
Bank Prometey preparing for record-breaking profits
ArmInfo. ArmInfo's interview with Karen Yeghiazaryan, Vice Chairman of Prometey Bank Board
Bank Prometey was among Top 10 banks by key figures and among Top 5 banks in terms of statutory capital in 2011. It is noteworthy that the bank has also launched introduction of innovative products this year. Has that approach been justified, Mr. Yeghiazaryan?
For sure, having a rich experience of work and 21-year-old history, Prometey Bank strives to keep up to the times constantly introducing customer-oriented up-to-date and innovative products. We are experienced and reliable partner for our customers. We follow the market development trends, and offer them the best solutions and products applied in the international banking.
Constant capital replenishment by the bank's shareholder also contributed to the impressive growth of financial indicators. Thus, thanks to the increase of the statutory capital from 7.2 bln drams to 14.4 bln drams for Q1 2011, Prometey Bank rose from the 11th to the 4th position in the banking system by the given indicator. The bank was among Top 10 banks by other indicators. In particular, the total capital of the bank grew 80% and has exceeded 18.5 bln drams (7th position). Bank's capital adequacy exceeds the Central Bank-established threshold 5fold. The given indicator is an evidence of the bank's high reliability. Assets of the bank have grown 38% since the beginning of the year exceeding 40 bln drams, with the loan portfolio growing 52% to over 24 bln drams (mostly business loans). Profitability of our work has also increased significantly. This year we have set a task to ensure 1.3 bln drams profits, which will be record-breaking in the history of Prometey Bank.
Since the beginning of the year, we have launched innovative services offering our customers new MasterCard Cold and MasterCard Standard cards with DDA chips. The annual service of MasterCard Standard is just 5000 AMD.
Since the beginning of the year, in cooperation with BAADER Bank, Germany, we have been offering our customers an opportunity to make operations with securities in all the leading exchanges in the world. Global Finance Magazine has recognized Prometey Bank the best Sub-Custodian Bank in Armenia in 2011. In addition, a system of remote account management with use of Token Digipass GO-6 security devices is available at the bank. The bank's services are interesting for the permanent customers and attractive for others. The bank's customer base has grown almost 20% since the beginning of the year.
What is the role of remote banking at Prometey Bank given its popularity among Armenian customers and in the world, generally?
We keep abreast of developments and pay special attention to remote banking and up-to- date technologies, which makes our work much more efficient. Therefore, we introduced Internet banking Prometey On-Line service in the current year and made it available to our customers worldwide. Since October we have been offering also Mobile Banking Prometey Mobile services, which is available for the users of Prometey On-Line free of charge. To use this service, one does not need a super modern or any special mobile phone. It is enough just to connect the mobile phone to Internet.
Prometey Bank is one of the few banks in Armenia to raise resources via emission and placement of bonds for foreign investors. Are you going to diversify also the sources of financing? Do you think that the resources from international financial structures are perspective for that purpose?
Most of the bank's liabilities are the proceeds from placement of bonds. Here we work with European and Russian investors mainly. However, we raise funds also from alternative sources. In particular, we raised credit resources from our German partner-bank. In addition, on Nov 30 Prometey Bank will hold a drawing of deposit agreement numbers in the framework of the Autumn Smile campaign, with the winner to be granted two air tickets for Yerevan- Dubai-Yerevan New Year tour. Within the framework of the Autumn Smile campaign the bank is receiving convertible AMD and USD time deposits from resident and non-resident individuals Sept 13-Nov 30. The deposits are received for 365 days at longest at 9%. In addition we are going to raise funds from international financial structures shortly.
This year Prometey Bank opened a branch in the town of Gyumri. When will your services become available also in other regions?
At present, the bank's services are popular in Yerevan only. We opened a new branch in the Shengavit community and will open another in Davidashen community soon. We work to expand into the regions. In 2012 alongside with the branch in Gyumri, we will serve also branches in Vanadzor and Abovyan.
Thank you.
By Lilit Aslanyan
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