Anelik Bank leader in term of retail lending growth

ArmInfo. Anelik Bank was the leader in terms of the retail lending growth in Armenia as of July 1 2015.

According to ArmInfo's Financial Rating of Armenian Banks, as of July 1 2015, Anelik Bank increased its loan portfolio by 61.5% (amid 10,7% average market growth), leaving behind the other banks. The improved its positions over the year, was up three positions in the rating to the top ten of banks in terms of retail lending. 

The bank's interest incomes increased by 47%, non-interest ones - by 56%. The non-interest incomes grew as incomes from the service of cards grew dynamically - by 49%. This allowed the bank increase general incomes by 43%. The bank's loan portfolio accounts for about 71% or 62.1bln drams of its assets as of July 1 2015. The banks loans grew 31% year over year (4th place, amid 11.3% average growth of this indicator in the market). Retail loan portfolio of the bank totaled 29bln drams (46.7% of total loans).

Nerses Karamanukyan, Chairman of the Board of Anelik Bank told ArmInfo earlier the bank would keep developing the segment of retail lending, increasing its loan book. He said the authorized capital would be increased by 2 bln drams through direct investment by the sole owner - Credit Bank S.A.L. (Lebanon). He said that in a year and a half the total capital of the Bank would be increased to 30 bln AMD - the new total capital requirement that comes into force on 1 January 2017.   

"We have a year and a half to cover the accumulated losses, start operating at a profit and increase the capital to the level of the new standard. I think Anelik Bank will be able to gain profit even in 2015. We are working hard in this direction," says Karamanukyan.  The new vision of the bank's development and its new strategy were set out in Q4 2013 immediately after the bank's leadership was replaced by the decision of the sole owner, Lebanese Credit Bank. The renovated strategy prioritizes development of the retail lending. The bank started introducing new banking services and credit products to boost the segment of retail lending. In particular, under its original project SIMPLE- FAST, the bank started offering demand and affordable retail loans.  The parent bank in Lebanon shared its best international practices in the retail banking with Anelik Bank. The parent bank has very rich experience in retail services based on the state-of -the-art software.  Introducing its SIMPLE-FAST package of loans at the end of 2013, the bank has already had several successful loan products: "Wedding," "Holiday," "Fast+,"  "Simply-Fast Car," "Simple-Fast Mortgage" (card-based), "Simple-Fast Extra," "Simple-Fast Progress," "Tourist," "Simple-Fast"  business loan for SME (partly card loans). In 2015, the bank introduced card loans "Simple-Fast Universal" and a revolving credit line. 

According to the Financial Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), as of 1 July 2015, the total capital of Anelik Bank CJSC was 13.7 bln AMD  (up 12%). The Bank's assets totaled 87.8 bln AMD (27% y-o-y growth). General obligations grew 30% (amid 14% average growth in the market) to 74.1 bln drams.  Time deposits account for about 58% or 42.6 bln drams of the total general obligations, of which 88% are personal deposits. The bank is the leader in term of y-o-y growtrh of time deposits 31.4% (a 9.5% average growth in the market).  The sole owner of Anelik Bank is Credit Bank S.A.L.  (Lebanon), which increased its stake in the Bank from 89.95% to 100% in Q4 2013. The bank's Moscow branch Anelik.RU was alienated in Dec 2012 and transferred to Lebanese Credit Bank S.A.L.

According to the analytical review of the "Armenian Banks in card business" prepared by ArmInfo news agency, the number of active cards Anelik Bank as of April 1, 2015 more than 47 thousand, of which more than 20 thousand cards are - Visa, over 19 thousand - ArCa, and the rest 7 thousand - MasterCard. The amount of transactions in plastic for 2014 was about 32 billion drams (annual growth 60%), of which more than 89% accounted for ATM transaction (with an annual increase in the absolute value by almost 2-fold).  Currently the bank serves 59 ATMs (49 of them installed in Yerevan) and 371 of its own POS- terminals. Anelik Bank is the first Armenian bank to work simultaneously on two international cards Visa and MasterCard and actively producing and serving local cards ArCa at the same time.  Bank launched such an interesting card projects as a VISA ANELIK Classic of "Anelik RU" subsidiary  (zero commission fee for money transfers to CIS countries and the Baltic States), ANELIK BANK MasterCard GOLD PRIVILEGE MAN / LADY (with insurance of "RESO" Insurance Company and all the advantages of club and discount cards), student express loans - cards "ANELIK BANK BOOM ENERGY VISA Classic", and the card project "Caring" for pensioners, students and university teachers, as well as a number of other loans of FAST-SIMPE series.