YEREVAN, July 19. /ARKA/. The net profit of Armenia’s Araratbank amounted to AMD 1.8 billion in the first half of this year, Ashot Osipyan, chairman of the bank’s board, said Thursday at a news conference.

The bank’s loan portfolio grew 26% or by AMD 10 billion in the first six months of this year to AMD 48.5 billion.

The number of the bank’s clients grew as well, to more than 155,000. The number of issued plastic cards rose by AMD 9,000 to 94,000 and the number of depositors by 10%. Araratbank has 41 branches.

Osipyan also said that the money transfers handled by the bank grew 96% in Jan-June 2012.

Araratbank, the heir of Armsvyaz bank, was established in 1991. European Bank for Reconstruction and Development holds 25% of the bank’s shares, 74.18% of the shares belong to Barsegh Beglaryan, owner of Flash petrol trader, and less than 1% to minority shareholders.

According to the Araratbank’s press office, the bank’s assets grew 25% or by AMD 21 billion in the first two quarters of this year to AMD 109.4 billion in late June.

Individuals’ deposits grew 11.8% or by AMD 1.6 billion. The bank’s ROE was 28.3% and ROA 3% in late June. ($1- AMD 411.66). -0--