YEREVAN, August 21. /ARKA/. On Saturday, Ardshininvestbank reopened its Armavir branch in the province of Armavir after repair, the bank’s press office reports.

“Ardshininvestbank provided all its clients in the capital and provinces with equal conditions,” Nerses Manukyan, chairman of the bank’s board said. “All the employees of the Armavir branch are properly qualified and are ready to help clients to enjoy our reliable and high-quality banking services.”

Manukyan stressed that the bank has branches in all the provinces of Armenia.

According to the press release received from the bank, the well-equipped Armavir branch is ready to resume providing swift and reliable banking services to its clients.

Armavir’s profit for the first half of this year exceeded AMD 30 million and its credit portfolio AMD 760 million.

The credit portfolio is planned to be e3nlarged to AMD 1 billion later this year.

The bank has also another branch, Echmiadzin, in Armavir province.

Ardshininvestbank received its license for banking activities from the Central Bank of Armenia on February 27, 2003.

The main stockholders of the bank are the Business Investment Center (86.96%) and the International Financial Corporation (10%). Arshininvestbank is an affiliated member of MasterCard/Europay international payment system and a stockholder of local transfer system Armenian Card CJSC.

Currently Ardshininvestbank cooperates with a number of Russian banks – Promsvyazbank, Socgorbank, Forabank and Sberbank.

The bank has 49 branches, including 6 branches in Nagorno-Karabakh Republic and a representative office in Paris.

According to ARKA News Agency’s data, the bank’s assets totaled AMD 111.2 billion and liabilities AMD 83.6 billion by late June.

Ardshininvestbank’s total capital amounted to AMD 27.6 billion, authorized capital AMD 15.5 billion and credit portfolio AMD 56.65 billion.

Its liabilities toward clients totaled AMD 67.9 billion, and the net profit for the first half of this year amounted to AMD 1.3 billion (29.13% year-on-year decline). ($1= AMD 365.98). —0—