ArmInfo.Attaching importance to the role and importance of social responsibility and encouraging the expansion of the use of clean energy technologies in Armenia, ARMSWISSBANK and Solaron solar panel manufacturing company jointly implemented a project to equip the roof of the Melkonyan family home with 5.4 kW solar panels.
As the press service of Armswissbank informed to ArmInfo, Melkonyan family is one of the young and large families of Armenia, consisting of spouses and 15 children living in the Aygavan community of Ararat region. The implementation of this project, which involves obtaining electricity through modern technologies, will ease the social and financial needs of the Melkonyan family.
According to the source, the cooperation of ARMSWISSBANK and Solaron company is not limited to just this example, namely, in partnership they carry out other projects for financing and installation of solar stations.
According to the Financial Rating of the Banks of Armenia as of July 1, 2019, prepared by ArmInfo IC, ARMSWISSBANK increased its loan portfolio by 17.4% per annum to 90.7 billion drams ($ 190.2 million). About 85% of its structure falls on corporate lending, the volume of which the bank increased in YOY terms by 16.3% to 76.8 billion drams ($ 161 million). Over 34% of the bank's loan portfolio is credited to the industrial sector (including the power supply package), which in absolute terms exceeds 30.9 billion drams ($ 64.8 million, 5th position in the market) with YOY growth of 19.8%. The bank completed the H1of 2019 with a net profit of 4.2 billion drams ($ 8.7 million, 3rd position in the market), ensuring YOY growth of 59.4%. ARMSWISSBANK holds a leading position in terms of efficiency ratios: in terms of return on equity (ROE) - 1st position (with an indicator of 18.72%), and in terms of return on assets (ROA) - 2nd position (with an indicator of 4.01%).
To recall, ARMSWISSBANK CJSC was established on October 7, 2004. As of July 1, 2019, "HVS Holding" Ltd. which registered in Luxembourg and managed by Vartan Sirmakes is the owner of 100% ordinary shares of "ARMSWISSBANK" CJSC. At the same time, Vartan Sirmakes, is an indirect participant in 100% of the bank's ordinary shares. To note, Armswissbank is a member of a number of international credit programs for renewable energy and financing of energy-efficient projects.