Wednesday, February 22 2012 21:09

Armenian Development Bank intends to increase its credit portfolio to 32 bln AMD in 2012


ArmInfo. The Armenian Development Bank (ADB) intends to increase its credit portfolio to 32 bln AMD in 2012, Chairman of ADB Board Karen Sargsyan said at today's press conference.

According to him, in early 2011 the credit portfolio of the Bank was 15 bln AMD, having increased by 60% to 24 bln AMD by late 2011. In 2012 the Bank is going to increase its credit portfolio by 33%, and the assets - by 60%.

In the credit portfolio of the ADB the lion's share (74%) falls on the loans provided to small and medium enterprises. 60% of the credit portfolio falls on business loans, and 24% - on mortgage credits. The business loans are mostly placed in the spheres of trade, industry, public catering, transport, construction.

In 2011 the bank's deposits were redoubled to 22bln AMD. The assets grew by 61% to 26.1bln AMD, the capital by 10% to 7.8bln AMD. The profit made up 760mln AMD. ROE made up 10.6%, ROA - 2.5%.

Sargsyan said that the number of active plastic cards has been increased by 44% to over 7,000, the clientele by 56% to 11,000.

For the moment ABD has five branches. In 2011 it opened ones in Gyumri, Vanadzor and Nagorno-Karabakh and will continue enlarging its branch network this year.

Armenian Development Bank was set up in 1991 and has 75 shareholders, including 13 legal entities, of which 2 being international organizations. Residents hold 52% of the capital, non-residents (from the United States, Russia, France, Germany, Italy, Canada, Spain, Sweden, Australia, Brazil) - 48%.
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