Monday, March 25 2013 20:36
Converse Bank marks 20th anniversary of its activity
ArmInfo. Today, on March 25, Converse Bank marked the 20th anniversary of its activity. During an event dedicated to this anniversary, Tigran Davtyan, Director General of the Bank, said that over 2012 the Bank's clientele grew by 40%.
"The active measures in the sphere of retail banking services, as well as the clients' high confidence ensured almost 90% growth in plastic cards, the number of which exceeded 100 thsd", Davtyan added. Over the past 5 years, the Bank's assets increased by 63.3% to 117.4 bln AMD (among the top 10 leading banks). Over that period the loan book of Converse Bank increased by 54.7% to 66.8 bln AMD; over the past 5 years the retail loans increased more than twofold to 35.2 bln AMD (4th position). As of 1 Jan 2013, the consumer loans of Converse Bank amounted to 22.1 bln AMD (5th position), or 34% of the total loan book. Most of the consumer loans are mortgage loans, which increased by 74% to 12.6 bln AMD (5th position). In 2010-2012 the loans provided to economy grew by 30% to 28.3 bln AMD, or over 42% of the Bank's loan book.
Trade sector has the biggest share in economy lending - over 13% of the loan book. Construction ranks next - 12%, industry is the third - 9%, small and medium entrepreneurship is the fourth - almost 8%, agriculture is the fifth - over 3%. The growth of the loan book allowed the Bank to considerably increase the profit - almost thrice in 2009- 2012. The Bank's liabilities grew by 50% in 2009-2012 and totaled 100 bln AMD (among the top ten). In their structure, time deposits make up 44% (almost twofold growth over the past 5 years), of which 62% were personal deposits. The total personal deposits in the Bank (call deposits and time deposits) grew twofold over the past 5 years and amounted to 36.8 bln AMD (among the top ten).
To note, the shareholders of Converse Bank are Advanced Global Investments LLC (headed by Eduardo Eurnekian) with a 95% stake, and the Mother See of Holy Etchmiadzin with a 5% stake. As of 1 Jan 2013, the Bank had 31 branches, 12 of them in Yerevan, 18 - in the regions and 1 in Nagorno-Karabakh.
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