In 2016 Ardshinbank increased its net profit 2.3-fold to $9.4 mln and retained its position among TOP-3

ArmInfo. In 2016 Ardshinbank  increased its net profit 2.3-fold to 4.6 bln AMD ($9.4 mln) and  retained its position among the TOP-3. Due to this, the accumulated  profit of the Bank grew by 16.8% to 29.9 bln AMD, increasing the  total capital by 11.6% to 54 bln AMD.  According to ArmInfo's Express  Ranking of Armenian Banks, Ardshinbank ensured such growth in net  profit due to the considerable increase in lending and investments in  government bonds. In particular, the loan book rose by 23% to 337.7  bln AMD, and the investments in government bonds - by 71.4% to 37.7  bln. Along with this, the Bank increased the disposable funds by  54.6% to 106.8 bln, and decreased the lending to banks and financial  organizations 3.6-fold to 4.8 bln AMD. The assets of the Bank grew by  26% to 504.7 bln AMD. 

In 2016, Ardshinbank's liabilities grew by 28% to 450.7 bln AMD due  to the fact that the customers' time deposits and call liabilities of  the customers rose by 22.9% to 250.8 bln AMD and the funds attracted  from the banks and other financial organizations grew by 62.4% to  147.3 bln AMD. In the meantime, the funds attracted from the Bank's  own corporate bonds dropped by 10.5% to 49.5 bln AMD.

In the total capital of Ardshinbank, the share of accumulated profit  rose from 52.8% to 55.4% in 2016, and the share of authorized capital  dropped from 39.3% to 36.3%. In 2014, the authorized capital of the  Bank grew by 26.6% to 19.6 bln AMD (including the share premium), and  this level was retained in the following two years. In 2016, the  total regulatory capital of the Bank grew by 13% to 45.1 bln AMD,  which is by 50.3% higher than the minimum capital standard (30 bln  AMD), which came into effect on 1 Jan 2017. By 1 Jan 2017, the  capital adequacy ratio made up 13.06% (N1, versus the required min  12%), total liquidity ratio - 26.28% (N2/1, versus the required min  15%), and the current liquidity ratio - 176.44% (N2/2, versus the  required min 60%) against 13.25%, 23.97% and 179.61% by 1 Jan 2016. 

To note, Ardshinbank CJSC (formerly called Ardshininvestbank before  November 2014) was founded in 2003. Following the merger with  Areximbank-Gazprombank Group in December 2016, now Ardshinbank has 72  branches (56 of its own and 16 Areximbank branches) and a  representation in Paris. Due to the merger, Ardshinbank has become a  leader in terms of the branch network in 2017. By the key balance  sheet parameters, Ardshinbank is among the Top-3 banks of Armenia.  The shareholders of Ardshinbank are the Center of Business  Investments LLC - 97.52%, Aram Andreasyan - 1.57%, Karen Safaryan  (RF) - 0.37%, Rudik Mkrtumyan and Khachik Zakaryan - 0.27% each, and  International Business Center CJSC JV - 0.0005%.