ArmInfo. ARARATBANK announced rebranding, marking the beginning of a new historical stage, for the bank itself, in particular, and the entire banking system of Armenia in general. Symbolically, the event was organized at the height of 2851 meters above sea level, on the top of Mount Teghenis, which offers an incredible view of the biblical Mount Ararat, Lake Sevan, Mount Arai Ler, Geghama Range and 4 peaks of Mount Aragats.
"Rising together" is the new slogan of the bank, which according to the CEO and Chairman of the Executive Board of Araratbank Mher Ananyan, is not just a set of words, but a new philosophy of the bank, a style and way of thinking. He stated this on September 24 within the framework of a press tour to Mount Teghenis with the participation of bank employees, representatives of the financial system of Armenia and the media, who overcame the height of 3 thousand meters on all-terrain vehicles, which was a very symbolic event in tune with the slogan chosen by the bank.
Mher Ananyan installed the flag of ARARATBANK's new concept on the top of Teghenis Mountain, the visual changes of the logo of which carry new energy, concept and approaches with which the bank intends to reach "new heights".
''Height is the main symbol of the new concept of ARARATABANK. And the slogan "Rising Together" serves as the basis for reliable and strong relationships based on mutual trust between the employee-bank, partner -bank, state -bank, client -bank. From being an aggressive "seller", we intend to become a "friend- advisor" to our clients. All our actions should be based on the idea of unity, "he said.
Answering ArmInfo correspondent's question, the head of the Bank's Executive Board noted that despite the rebranding and introduction of a new ideology, there can be no "new fantasies" in terms of areas of activity, tariffs and services, since professionals work in all banks in Armenia, and in conditions of tough competition new products are being developed, strategies change, etc. "The question is - with whom will we go forward. From a financial point of view, the bank's strategy changes annually, but the new brand forces us to implement strategy programs with the public, which has new values, realizing that their success depends on themselves. We want to take a step and say that we are open to every member of the public who is confident in himself and does not deviate from values, " M. Ananyan said. In turn, the Chairman of the Board of Directors of ARARATBANK Grigor Hovhannisyan emphasized that, in addition to the introduction of new financial technologies, rebranding will offer a concept focusing on people, that is, the use of an individual approach. Answering the question of ArmInfo's correspondent the Chairman of the Board noted that thanks to such an approach, the Bank can objectively double its client base, which today exceeds 200 thousand people.
"This means that our bank will become an institution that will actively introduce the latest technologies and keep up with global trends, introducing financial solutions based on environmental responsibility. In this context, a traditional bank is becoming a "green" bank, focusing on people and the planet, "he said. Being a "green" bank, according to the Chairman of the Board, is of fundamental importance. Answering the question of an ArmInfo correspondent, G. Hovhannisyan explained that this concept provides for the development of credit products related to solar energy, which will be focused not only on corporate clients, but also on individual customers. G. Hovhannisyan did not go into details noting only that the Bank intends, among other projects, to popularize the use of electric vehicles by the public.
He noted that in the future he sees ARARATBANK to a greater extent involved in programs related to environmental protection, assisting young families, entrepreneurs, technology start-ups, allowing to make society more inclusive, etc. In addition, G. Hovhannisyan stressed that based on the fact that Armenians are a global nation, the Bank should have a global agenda. ''We would like to be useful to the Diaspora, or repatriates.
Therefore, over time, we will strive to become an organization promoting pan-Armenian programs, a partner and structure for the implementation of the ideas of all Armenians. Today we extend our hand to all those who believe and trust us to walk this path together, "he said. The Chairman of the Board also noted that ARARATBANK received a good legacy from the previous management in the person of 20 international partners, with whom strong relations have been formed. In this regard, he noted that the Bank plans to expand the geography of partners to cover the countries of the transatlantic continent and the Persian Gulf.
Within the framework of the press tour, discussions were also held in the Fishbowl format, during which the member of the Board of ARARATBANK, co-founder of Braind Company Karen Babajanyan presented the visual changes and the concept of the bank's rebranding. Speaking about the new logo, which depicts two ascending columns, symbolizing Mount Ararat, he noted that the selected colors - black and yellow - symbolize balance and discipline along with lightness, dynamics and continuous rise. K. Babajanyan urged: "Everyone must conquer his Ararat. Let's rise together''.
To note, ARATBANK is one of the most dynamically developing banks in the country. According to the results of the first half of the year, the amount of the bank's assets totaled $ 467.5 million, of which credit investments - $ 307.6 million. In the bank's loan portfolio, 57% falls on corporate lending ($ 174.5 million), and 43% - on retail ($ 133.1 million).
The bank's total liabilities amounted to $ 387 million, total capital - $ 80.5 million. In the structure of the bank's total liabilities, 44% ($ 169.3 million) falls on funds attracted within the framework of international programs, 23.4% - on time deposits ($ 90.6 million), 21.4% - on demand deposits ($ 82.6 million). Moreover, only the deposits of individuals (urgent and additional claims) account for 54% of the bank's liabilities or over $ 208 million, with the provision of volume growth in the first half of this year. by 83%.
The bank completed the first half of 2020 with a net profit of $ 3.4 million, with a y-o-y growth of 23%.
To remind, "ARARATBANK" OJSC has been operating in the Armenian market since November 2005. As of July 1, 2020, the majority shareholders of ARARATBANK are one of the largest oil traders in Armenia - "Flash" company with a 72.73% stake in the capital. ARARATBANK is included in TOP-5 in terms of the coverage of the branch network, having 58 offices.