IDBank is new name of Anelik Bank, today rebranding of bank was announced

ArmInfo.Anelik Bank announced its rebranding with the renaming of it into the name of IDBank, the abbreviation of which is Innovation, Intelligence, Digital, Developed Bank. This May 30 at a rebranded press conference said Chairman of the Board of the Bank Anelik Vardan Dilanyan.

"With the arrival of a new majority shareholder in the bank, we have repeatedly said that a renovation and modernization program will be launched that should cover both the whole range of work with clients, as well as the mechanisms for internal transformation of the Bank and improving its manufacturability. Since that moment a year and a half has passed, we have done a lot of hard work. The collective of the bank with the support of shareholders attracted the best international group of experts for brand development, which will help us make the right decisions. And now we are ready to move forward with our updated strategy, "he said.

The bank's experience, a good stable capital base, which was strengthened in Armenia, the presence of a competent good team and their knowledge, according to .Dilanian, inspire confidence in the implementation of the new strategy. "The task is not simple, but I believe it is within our power," he stressed.

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According to him, along with the issues of improving the quality of services, for the Bank the cornerstone issue is the implementation of a program of deep business digitalization, both from the point of view of client work, and in terms of internal processes of the bank. During 2018 the Bank intends to launch interesting novelties on the market, which will win its mass client. "We put a lot of knowledge, forces and investments into it," he said.

Answering the question of ArmInfo, Dilanian noted that the Bank will continue to remain universal. In this regard, he added that in 2017 the Bank shifted the focus of lending to a certain extent, investing sufficiently serious resources in financing enterprises, in particular, representing the energy sector, the mining industry, and the production of mass goods. "We will continue to lend a certain set of such industries, and borrowers corresponding to the profile of our bank. But we want to be a bank that will work with the Armenian population and potentially with citizens of other countries on a high technological note if we manage to realize our plans. Therefore, it is necessary to make several serious offenses in the field of digitalization in the information sphere. I think that we will maintain a stable corporate portfolio, stepping up our pace in retail, but on a fairly technological basis, "Dilanian explained.

In turn, the representative of the marketing department of IDBAnk Tatevik Hovhannisyan explained the meaning of the logo, which features three colors - white, gray and orange, along with three triangles. White color, as she explained, indicates openness and transparency, gray- for innovation, and orange - for activity, youth and new breathing. Triangles, however, symbolize a fingerprint, which indicates a new individual approach of the Bank in dealing with customers. "We have been working on the new brand for a long time, and we hope that it will win the approval of clients very quickly," she concluded.

According to the Financial Rating of Armenian Banks prepared by IC ArmInfo, the Bank's assets by January 1, 2018 amounted to 131.9 billion AMD. The volume of the Bank's credit investments amounted to 65.8bln AMD (49.9% of the bank's assets) at that date, out of which 41.3% or 27.2bln AMD accounted for retail crediting. Net profit increased by 3.8 times to 4.3 billion drams. (The calculated exchange rate of the AMD as of 31.12.2017 is 484.10 dr / $ 1). Anelik Bank has been operating in the Armenian market since October 1996. With the arrival of a new shareholder in the person of Cyprus company FISTOCO LTD with a stake of 59.68%, the share of the former shareholder Lebanese Bank CreditBank S.A.L decreased to 40.32%. The branch network has 14 divisions, 8 of which are metropolitan and 6 regional ones.