ARMSWISSBANK and Solaron jointly implement projects to expand use  of clean energy technologies in Armenia

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.