YEREVAN, April 30. / ARKA /. Armenian ARDSHININVESTBANK has announced today the results of its activities for the year 2012, on the basis of its audited consolidated financial statements in compliance with the IFRS. Notwithstanding the lasting volatility of the global economy and increasing competition pressures within the Armenian banking sector, the Bank has demonstrated a robust growth of its main financial indicators, it said in a press release.

In 2012 its operational costs to income ratio (CIR) decreased by 3,9%, making 47,5%; net profit reached the level of AMD 4.2 bln, which exceeds the same indicator of 2011 by 79,4%; net interest income increased by 18,7% and net operational income  increased by 21,7%.

The above mentioned figures are the confirmation that ARDSHININVESTBANK continues holding leading positions on Armenian financial market, the bank said.

The net profit of the Bank for 12 months of 2012 totaled  AMD 4.2 bln, exceeding the same indicator of the previous year by 1.8 times, which is the highest growth rate throughout the Bank’s history. Among the key contributors to the net profit growth was the increase of credit portfolio as well as improvement of both - efficiency of risk control systems and general operational efficiency.
In addition to the positive financial results, the Bank continued its efforts towards strengthening the risk management system and development of its operational system. As before, ARDSHININVESTBANK possesses one of the largest branch networks in the country - with the widest geographical coverage.

The net interest income for 12 months of 2012 totaled to AMD 10.4 bln, increasing by 18.7% compared to the same indicator for 2011. The growth of this figure is supported by constant diversification of the Bank’s business-model and confirms the efficiency of its business.

The net operational income increased by 21.7% compared to the previous year, making AMD 15.1 bln. “Such growth rate, unprecedented for the banking industry of any country, is related to reaching the asset distribution targets, as well as rising of the share of high-return assets in total assets (i.e. distribution of excess liquidity in the market through lending,’ according to the bank’s press release.
The relation of expenses to income (CIR), which is one of the main indicators of the profitability of the Bank’s business, made 47.5% as of 1st January 2013. This result is by 10.7% better than the average of the banking system, which is 58.2%. The task of cost management remains a priority and is under permanent control of the Bank’s management.

Talking about the results of the activities for the last year, the Chairman of the Management Board of the Bank Mher Grigoryan mentioned: "The achievements of ARDSHININVESTBANK in 2012 confirm the transformation of the Bank into universal financial institution, offering its clients a wide spectrum of quality products. The permanently growing client base is reassuring that the Bank is on the right way".

As of 1st January 2013, the client base of ARDSHININVESTBANK counted for 9,700 legal and 175,350 physical entities, exceeding the same number for the year 2011 by 32%.
During 2012, the overall network of sales points of the Bank increased by 29 units, achieving a level of 330 units as of 1st January 2013 (including ATMs and POS terminals). -0-