YEREVAN, January 23. /ARKA/. Liabilities of Armenian Development Bank in 2011 increased by 84.4% making 28.3 billion drams by the end of January, press-service of the Bank informed ARKA News Agency.

According to the press-release, by expanding its branch network, entrepreneurial activity, increase of consumer confidence, as well as expansion of provided services and financial instruments in 2011, unprecedented growth of volume of attracted funds by the clients - by 115% or 11.7 billion drams up to over 21.8 billion drams was registered.

Time deposits of the Bank increased in the reporting period 2.2 times, and the number of depositors – 2.3 times.

“Armenian development Bank” (ADB) was established in 1990. It was re-registered in Central Bank of Armenia in 1993 and has a license №14. Up to 1996 it was functioning under the name “Bank of Reconstruction and Development”.

According to the data of ARKA News Agency, as of December 31, 2011, assets of the Bank were over 36.1 billion drams, liabilities - about 28.3 billion drams, total capital - over 7.8 billion drams, charter capital – about 4.8 billion drams, credit investments – 24.4 billion drams, liabilities to the clients of the Bank – 21.8 billion drams and net income in 2011 – over 759.1 million drams.($1-387.59 drams). --0--