YEREVAN, January 19. /ARKA/. “Growth of economy by the results of 2010 will be 1-2%”, said Nerses Karamanukyan, Chairman of Board and Executive Director of “Ardshininvestbank” in the interview with the journalists of “ARKA”.

In January-November 2009, the volume of GDP in Armenia was reduced by 16% compared with the same period of 2008. The year 2010 will be more active by all directions, especially by crediting. “As for crisis, we can say that we overcame it. I expect increase of macroeconomic indicators of GDP in 1-2% by the results of 2010”, said Karamanukyan.

According to preliminary prognosis, the year 2010 will be positive for the Bank. According to the approved state budget of Armenia, economic growth in the country by the results of 2010 is planned 1.2% and according to official data, decline of Armenian economy during 11 months of 2009 was 16%. CJSC “Ardshininvestbank” got license (N 83) of CB Armenia for implementing banking activity on February 27, 2003.

The main shareholders of the Bank are Open JSC “Center of Business Investments” (86.82%) and International Finance Corporation (IFC) (10%) which became shareholder at the end of 2007. As of September 30, 2009 the assets of the Bank were 122.9 billion drams, liabilities – 96.2 billion drams, total capital of the Bank – 26.7 billion drams, charter capital – 15.5 billion drams, credit investments – 56.1 billion drams, liabilities towards the clients – 81.1 billion drams and net income - during January-September 2009 – 1.5 billion drams. ($1 – 377.27 drams).--0—