YEREVAN, December 14. /ARKA/. Armenian Araratbank’s credit portfolio has grown over this year by 3.5 billion to AMD 15.5 billion, Garik Adamyan, chief of the bank’s strategy and methodology division, said Monday at Novosti International Press Centre answering ARKA News Agency’s question.

He said the bank’s credit portfolio amounted to AMD 12.2 billon by late December of the previous year.

It means the bank has built up its credit portfolio by 3.5 billion for 12 months of this year.

Adamyan said that Araratbank outdid other banks this year on these indicators.

He said 39.9% of the bank-extended loans were standard, and the credit portfolio is free from loan defaults.

Araratbank OJSC, heir of ArmSvyaz, was established in 1991.

In October 1996, the bank received the license #4.

European Bank for reconstruction and Development holds 25% of Araratbank’s shares and 74.1% belong to Barsegh Beglaryan, owner of Flash Company.

On January 30, 2009, Araratbank joined NASDAQ OMX Armenia Stock Exchange.

The bank has 27 branches in Armenia.

According to the information ARKA News Agency has at its disposal, the bank’s assets totaled AMD 29 billion and liabilities AMD 21.3 billion by late September.

The bank’s total capital amounted to AMD 7.5 billion and profit AMD 454.3 million. ($1 – AMD 383.63). -0--