Monday, July 23 2012 19:02

Araratbank is planning to increase its assets by 35% in 2012


ArmInfo. Araratbank is planning 2.8bln AMD net profit in 2012. The assets will be increased by 35%, the loans by 34%, the bank's CEO Ashot Osipyan told ArmInfo on Monday.

He said that this year the bank is going to be more active in SME and agriculture lending. Time deposits will be increased by 25%, plastic cards by 40%.

According to Araratbank, in Jan-June 2012 the bank's assets grew by 25% to 109.4bln AMD, loans by 26.3%, deposits by 11.8%. The clientele grew by 10% to 155,000 customers. In Jan-June 2012 the net profit totaled 1.859bln AMD. ROE made up 28.3%, ROA 3%.

Araratbank has 41 branches. Its majority shareholders are Flash oil trader (74.1%) and EBRD (25%+1).
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