Wednesday, November 3 2010 10:49

IFC to advise Anelik Bank on risk management


ArmInfo. The IFC will advise Anelik Bank in the field of risk management.

Relevant agreement was signed today by Chairman of the Board of Anelik Bank Samvel Chzmachyan and IFC Director for the Caucasus Thomas Lubeck.

According to the agreement, the IFC will launch an automated risk management system at Anelik Bank. This system will help to reduce both lending and operational risks.

Chzmachyan said that almost all banks of Armenia need risk management now that the crisis is still present.

Lubeck said that it was exactly the lack of an efficient risk management system that caused the global financial crisis. The IFC's system will help to enlarge lending of SMEs and will offer new economic growth opportunities.

According to the Ranking of the Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as of Sept 30 2010 the assets of Anelik Bank totalled 52.7bln AMD, total capital - 15.6bln AMD, liabilities - 37.1bln AMD. In Jan-Sept 2010 the bank's profit totalled 458mln AMD, loan book - 27.3bln AMD.

Anelik Bank was established July 9 1990, registered Oct 1 1991 and licensed in Oct 1996. In mid 2009 Lebanese Credit Bank bought 51% of the bank's shares.
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