Friday, June 29 2012 18:45
Armeconombank to use 40% of its last year's profit to pay 9% yield dividends
ArmInfo. Armeconombank has started paying dividends to its shareholders. The yield is 9% (225 AMD per share).
Member of Armeconombank's Board Anahit Simonyan says that the nominal value of one share is 2,500 AMD, the nominal value 9,881 AMD, the market cost 4,000 AMD.
According to Simonyan, Armeconombank is the only Armenian bank whose shares are quoted on NASDAQ OMX Armenia.
A total of 210mln AMD out of the last year's 497.3mln AMD profit will be paid in dividends.
CEO of Armeconombank Armen Naljyan said that in 2011 the bank's assets grew by 18.9% to 60.3bln AMD, loans by 5% to 29.3bln AMD, 48.5% of the asserts are loans, of which 40.2% or $12.1bln are loans provided in the framework of international credit programs. The bank's liabilities grew by 22.2% to 51.1bln AMD, deposits grew by 52.9%, with 38% of them being time deposits (16.9bln AMD). The capital grew by 3.5% to 9.2bln AMD, net profit by 41.3% to 497.3mln AMD.
In 2011 Armeconombank issued 33,000 cards. As a result now it has 140,500 cards. The clientele grew by 28.3% to 106,300: 100,000 individual and 6,300 corporate customers. The bank has 39 branches (19 in Yerevan, 19 all over Armenia and 1 in Nagorno-Karabakh).
"One of our key achievements in 2011 was the EBRD's decision to prolong its participation in our authorized capital. The Asian Development Bank will provide us with a loan for financing foreign trade, the Black Sea Trade and Development Bank will lent us $5mln for supporting SMEs, the EBRD $6.6mln for funding micro, small and medium-sized companies," Naljyan said.
The majority shareholders of Armeconombank are the Sukiasyan brothers (53.4%), the EBRD has 25%+1, with the remaining 21.6% owned by resident and non-resident individuals.
Expert: When there is no trust between private and public sectors, unfortunately, there is no need to talk about right decisions
Expert: Armenia should use Georgian, Turkish transit opportunities
Yerevan is trying to demonstrate to its Anglo-Saxon `bosses` its readiness to reduce economic cooperation with Iran - political scientist
Gevorg Mantashyan: High-Tech Ministry makes consistent efforts for emergence and progress of startups in Armenia
Bank of Georgia announces proposed acquisition of Ameriabank for $303.6 million