Friday, November 28 2014 18:39
The Banker recognizes Ardshinbank as The Bank of the Year 2014 in Armenia
ArmInfo. The Banker, the monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London, has recognized Ardshinbank as The Bank of the Year 2014 in Armenia. The nominees of the prestigious The Bank of the Year Awards were named on 27 November in London.
"The achievements of the Bank recognized by The Banker once again showed that the bank has chosen the right development strategy," says Mher Grigoryan, Chairman of the Management Board of Ardshinbank CJSC. The bank has retained its leadership positions in the banking system of Armenia due to mutually advantageous and effective cooperation with its customers and partners building on the best international practices and standards, he says.
According to ArmInfo's Financial Rating of Armenian Banks, Ardshinbank (former Ardshininvestbank renamed in Nov 2014) is among Top Three Banks in terms of total capital, assets, and loans (both corporate and retail lending), call liabilities. As for time deposits (overwhelmingly deposits of the population), the bank retains a leadership position. The Bank is among Top Three Banks also in terms of the net profits, which enables it to keep leadership positions also in terms of ROA and ROE. Ardshinbank is involved in several international credit programs, including SME finance, renewable energy, mortgage lending, trade finance and state program subsidizing agricultural loans. Ardshinbank's majority shareholder is Center of Business Investments LLC with a 97.23% share. The bank entered the bank in 2003.
The Bank of the Year Awards is an annual awards event recognizing the top financial institutions in the world. Over 150 countries have been acknowledged for their achievements by The Banker. The Bank of the Year Awards have been held every years for already 15 years.
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