The state services in Armenia will be available through "Araratbank"

ArmInfo. State services in Armenia will be available also through "Araratbank". The corresponding draft decision was approved at a meeting of the Armenian government on June 23.

As the Minister of Justice David Harutyunyan stated, presenting the document, at the current stage in the list of 6 state services operators: 5 banks - Ameriabank, Ardshinbank, Converse Bank, Anelik Bank, Armeconombank, and national postal operator "Haypost". Operators' activities cover practically all regions of the country (51 offices). The government plans to cover all cities of the republic by the end of the year.

By now, according to him, they provide 67 out of 273 kinds of state services, 42 more are planned to be delegated to them in the near future. "Another operator comes into play is Araratbank," said Harutyunyan.

To recall, since November 10, 2016, citizens of Armenia have been able to apply for government services (certificates and documents) to banks and post offices. Among the services provided are registration of commercial enterprises and private entrepreneurs, NGOs, funds, individual units of legal entities, registration of Armenian representations of foreign NGOs. Operators also accept applications for the elimination and reorganization of legal entities. Banks and mail will be able to issue paper copies of the statutes of legal entities. It will be possible to register the rights to movable property. The registration of property rights will become available from the functions of the cadastre. Operators of state services can be banks, postal operators, other organizations that must have no less than 5 years of experience in effective provision of services and at least 10 service centers in Armenia.

To recall, the international authoritative publication Global Finance recognizes ARARATBANK as the best bank in Armenia for trade financing for the second consecutive year. As the press service of the Bank told ArmInfo, in this way ARARATBANK is recognized as the best international trade organization by the third international authoritative organization. ARARATBANK was awarded this taking into account such criteria as the volume of operations performed, the geographical scope of transactions, high quality of customer service, competitive pricing, and innovative technologies introduced in the bank.

According to the Express-Ranking of Armenian Banks, prepared by IC ArmInfo, ARARATBANK increased its credit portfolio for 2016 by 58.7% to 104.9 billion AMD or $ 216.7 million (48.7% of the bank's assets). As a result, the assets of ARARATBANK grew by 63.3% in the reporting year to 215.6 billion AMD or $ 445.5 million. The total capital of the bank increased by 47.6% in 2010 to 33.2 billion AMD due to the replenishment of the authorized capital by 2 times to 16.8 billion AMD (through the issue of shares - in November 2016 and the merger with the Armenian Development Bank - in December of the same year). The total liabilities of the bank grew by 66.4% in 2016, to 182.4 billion AMD or $ 376.9 million, in the structure of which 58.7% accounted for term deposits and demand deposits (with an annual growth of almost two times the absolute value) and 30,2% - on funds raised from international financial organizations (with an annual growth of 14.6%). ARARATBANK has been operating since November 2005. In the structure of the bank's share capital, at the end of the November issue of shares, 72.73% belongs to the largest oil trader of the country - Flash, 18.14% - EBRD, 8.58% - Rural Impulse Fund II, and the rest 0.55% - distributed among 82 minority shareholders. The branch network of ARARATBANK has 54 subdivisions (4 positions): 27 in Yerevan, 26 in the regions of Armenia and 1 in Artsakh, and taking into account the branches of the Armenian Development Bank, their total number will reach 63.