Central Bank registers new branch of Araratbank

09.06.2010 18:55
Central Bank registers new branch of Araratbank

YEREVAN, June 9, /ARKA/. Armenian Central Bank said it has registered a new branch of Araratbank –Sevan. The decision was passed by Central Bank governor Artur Javadian on June 7, the Central bank’s press office said.

Araratbank provides a full range of banking services, focusing primarily on micro, small and medium-sized enterprises and retail clients. Some 74.1% of its shares belong to Barsegh Beglarian, the owner of Flash petrol trader, the EBRD’s stake is 25%+1 share.

According to ARKAs data, on March 31 Araratbank’s assets stood at 41.2 billion Drams, liabilities-at 33 billion Drams, its total capital was worth 8.3 billion Drams, chartered capital was worth 6.1 billion Drams, credit investments-18.9 billion Drams. In the first quarter of this year it earned 304 million Drams in net profits. -0-


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