ArmInfo. The international authoritative publication Global Finance recognizes ARARATBANK as the best bank in Armenia for trade financing for the third consecutive year. The press service of the Bank told ArmInfo that the award was given to ARARATBANK in view of such criteria as innovative technologies introduced in the bank, the volumes, accuracy and speed of the operations performed, geographical coverage of transactions and high level of customer service.
The names of the winning banks on a global scale in different nominations "Global Finance" was announced on January 17 in London at the annual meeting of the Banking Association of Finance and Trade (BAFT). Editors and analysts of Global Finance, businessmen and independent experts carried out the selection of winners from 94 countries.
It is worth mentioning that for the last seven years ARARATBANK has been repeatedly awarded the title of "Best Bank of Armenia for Trade Finance" by two international authoritative financial institutions - the German Commerzbank AG and the European Bank for Reconstruction and Development (EBRD).
The monthly edition of "Global Finance" has been published since 1987. The magazine has over 50,000 subscribers in 180 countries. The target audience of the publication are the leaders and representatives of the world's largest private and public financial structures. The experts of the publication analyze the important financial indicators of more than 192 countries.
According to the Express-Ranking of Armenian Banks, prepared by IC ArmInfo, ARARATBANK increased its credit portfolio for the year of 2017 by 13.6% to 119.2 billion drams or $ 246.2 million (56.1% of the bank's assets). As a result, the assets of ARARATBANK reached 212.6 billion AMD or $ 439.2 million. The total liabilities of the bank amounted to 177.3 billion AMD or $ 366.3 million as of the end of 2017, in the structure of which 49.2% accounted for term deposits and demand deposits and 44.8% for attracted funds from international financial organizations (with an annual growth of 44.4%). The bank raised its total capital by 6.5% in 2017 to 35.3 billion AMD ($ 72.9 million) due to the increase in accumulated profit by 13.8% to 14.5 billion AMD. 2017, ARARATBANK completed with a net profit of 2.1 billion AMD ($ 4.3 million), ensuring the growth of this indicator by 89.1%.
"ARARATBANK" OJSC has been operating since November 2005. The majority shareholders of ARARATBANK on October 1, 2017 one of the largest oil traders in Armenia - Flush company - 72.73%, Barsegh Beglaryan (famous entrepreneur, the head of Flash) - 18.33% and Rural Impulse Fund II (part of the Belgian Incofin Investment Management - Incofin IM) - 8.58%.