YEREVAN, May 31. /ARKA/. Armenian Araratbank may enter Warsaw Stock Exchange in 2011 or 2012, Ashot Osipyan, chairman of the bank’s board and executive director, said Monday at the third annual meeting of the bank’s shareholders.

“We have considered room for placement of stocks on international stock exchanges. Araratbank shareholders are interested in this issue... Maybe in 2011 or 2012 we'll enter Warsaw Stock Exchange,” he said.

Osipyan said that the matter has been discussed with a representative from the Polish party, who came to Yerevan the last year at the bank’s invitation.

He reminded participants of the meeting that the bank’s shares are already listed on Armenian stock exchange.

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

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% + one share of Araratbank’s shares and 74.1% belong to Barsegh Beglaryan, owner of Flash Company.

According to ARKA News Agency’s data, the bank’s assets totaled AMD 41.1 billion and liabilities AMD 33 billion by late March.
Araratbank’s total capital amounted to AMD 8.3 billion and authorized capital AMD 6.1 billion.

Its credit portfolio amounted to AMD 18.9 billion and liabilities to clients totaled AMD 25.4 billion by late March.
The bank’s net profit for Jan-March 2010 amounted to AMD 304 million. –0—