Friday, April 27 2012 19:18

Armenia Development Bank increases its deposit portfolio


ArmInfo. In Q1 2012 the Armenian Development Bank increased its deposit portfolio by 2.2 times or 12.4bln AMD.

The press service of the ADB reports that personal deposits grew by 2.4 times to 18.2bln AMD, while corporate ones by 75% to 4.4bln AMD. In 2011 the number of depositors grew buy 2.3 times. The time deposit portfolio grew by 2.7 times to 18.1bln AMD, the total obligations by 84.4% to 28.3bln AMD.

In 2011 the bank opened three branches in Nagorno-Karabakh, Vanadzor and Gyumri. Now it has a total of five branches (two in Yerevan).

In Q1 2012 the bank's assets grew by 7.2%, obligations by 8.3%, capital by 3.2% to 8bln AMD. The authorized capital totaled 4.6bln AMD, the net profit 250.6mln AMD – 2.5 times more than in Q1 2011.
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