Monday, October 8 2012 19:51

In 2012-2014 Artsakhbank to be capitalized exclusively at the expense of its profit


ArmInfo. In 2012-2014 Artsakhbank is going to be capitalized exclusively at the expense of its profit, Chairman of Board of Artsakhbank Kamo Nersisyan said when commenting on ArmInfo correspondent's question about possible capitalization.

He added that this is fixed in the three-year strategic development plan of the Bank. He pointed out that the Bank is expected to ensure 1.850 bln AMD net profit by late 2012.

According to some forecasts, the assets, liabilities and the capital of the Bank will increase by 24%, the lending - by 20%, and the time deposits - by 40%.

Nersisyan said that the growth in call deposits is due to a growth in plastic cards. "We regularly appear with new deposits, offering flexible terms and attractive interest rates," the banker said, adding that if the market situation changes, the bank is ready to consider reducing its interest rates: to 15% for AMD deposits, to 12% for USD deposits, to 24% for AMD loans and to 18% for USD loans.

Nerisyan said that Artsakhbank is going to keep its high pace on the plastic card market. By the end of this year the bank is expected to have 32,000 active plastic cards, 41 ATMs, 90 POS terminals.
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