Friday, April 8 2011 17:46

Anelik Bank plans to increase loan portfolio 40% to 41.5 bln drams in 2011


ArmInfo. Anelik Bank plans to increase loan portfolio 40% to 41.5 bln drams in 2011, the bank's press-service told ArmInfo. As of Jan 1 2011 the credit exposure of the bank totaled 29.7 bln drams (up 21.6% - 5.3 bln drams).

"In 2011 the bank alongside with active lending of the real sector will intensify consumer lending through such products and motor loans, mortgage, loans for acquisition of products by installments and others. Simultaneously, the bank has improved the internal regulations, facilitated loan provision procedures. For instance, the bank provides student loans in a day period," says Hayk Grigoryan, Head of the Bank's Department for Loans.

Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says assets of the bank totaled 60.1 bln drams as of Jan 1 2011 (11th position) with annual growth of 22.6%. The share of loans was nearly 50%. 81% of total portfolio were loans to economy sectors (24.2 bln drams, 9th position, up 23.4%) and another 19% were personal loans (5.5 bln drams, 14th position, up 11.6%). The classification of the bank's loan portfolio is as follows: industry - 34.5%, trade - 22.2%, public catering and service- 11%, construction - 5.8%, agriculture - 4.2%, consumer loans -20% (including 6.3% mortgage). Industrial loans grew almost 60% in 2010. Construction - almost 46%, agriculture - 14%, public catering and service - 41%, consumer loans - 65% (including mortgage - 33$, motor loans - almost 9%).

"Anelik Bank" CJSC was founded in 1990 August 1, by enterprises and organizations of Light Industry as a Shareholding Commercial Bank. The bank created Anelik money transfer system in 93 countries. It is the only Armenian bank to have a branch in Moscow - Anelik.RU. The bank is involved almost in all the international loan programs. It serves 11 branches (5 in Yerevan, 6 in regions).
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