Ardshininvestbank’s AMD 60-billion credit portfolio expected to grow 15% later this year

19.10.2009 19:58
Ardshininvestbank’s AMD 60-billion credit portfolio expected to grow 15% later this year

YEREVAN, October 19. /ARKA/. Ardshininvestbank’s credit portfolio totals AMD 60 billion now and is expected to grow 15% later this year, Nerses Karamanukyan, the chairman of the bank’s board, said Monday.

He said that the bank would pay a special attention to mid-scale business.

Karamanukyan also said that the bank would lend money to individuals and companies.

“We intend to intensify crediting of our large clients and to make efforts to attract new clients”, he said answering ARKA News Agency’s question.

In his words, the bank has built up its assets in the third quarter of this year – the most intensive growth was recorded in deposits of individuals and legal entities.

Karamanukyan said that Ardshininvestbank occupies the first three positions among Armenian banks on various parameters and intends to concentrate its attention on small- and mid-scale businesses, not forgetting also about corporate clients.

Ardshininvestbank CJSC got its license (N83) from the Central bank of Armenia on February 27, 2003.

Business Investment Centre holds 86.82% of the bank’s shares and International Financial Corporation 10%.

The bank is an affiliated member of Master Card/Europay international payment system and a shareholder of Armenian Card system in Armenia’s territory.

The bank’s assets totaled $320 million by late June.

The bank provides services to 157,000 individuals and legal entities.

The bank has 55 branches in Armenia and one office in Paris. M.V.-0-


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