ArmInfo. IDBank customers will not suffer as a result of a lawsuit initiated against the bank by entrepreneur Gevorg Afandyan. This was announced on November 18 at a press conference by the chairman of IDBank's Board, Mher Abrahamyan, in response to a concern expressed by customers about the rumors that the bank is going bankrupt.
"The bank today is developing well, has a sufficient level of liquidity. Moreover, we have serious strategic development programs in Armenia", Abrahamyan emphasized. In particular, he said, IDBank plans to become an international bank and export its services to the markets of other countries. "We intend to turn IDBank into a leading bank not only in Armenia, but also in the region," he emphasized.
According to the Financial Rating of the Banks of Armenia prepared by ArmInfo IC as of October 1, 2019, the total capital of IDBank amounted to 43 billion drams ($ 90.3 million), assets exceeded 148 billion drams ($ 311 million), credit investments - 89 billion drams ($ 187 million). About 51% of the bank's loan portfolio falls to corporate loans, and over 45% to retail loans, with a y-o-y growth of the latter by 47.5%. The time deposits portfolio in IDBank amounted to 50.4 billion drams (with a y-o-y growth of 8.3%), and individual deposits dominate in its structure - about 41 billion drams. The share of term deposits in the bank's total liabilities reaches almost 48%. IDBank completed 9 months of 2019 with a net profit of 2.5 billion drams ($ 5.3 million), of which nearly 977 million drams were secured for the III quarter with a quarterly growth of 22.3%. Return on Equity (ROE) of IDBank for the first 9 months of 2019 reached 7.8%, and the level of return on assets (ROA) was 2.5%. IDBank's capital adequacy level as of October 1, 2019 amounted to 30.04% (with normatively required min 12%), the level of total liquidity - 26.89% (with normatively required min 15%), current liquidity level - 136.41% (with normatively required min 60%). (The calculated rate of the dram as of September 30, 2019 was 475.97 AMD / $ 1).