Araratbank’s securities turnover sees a triple increase from last year

27.05.2014 12:59
Araratbank’s securities turnover sees a triple increase from last year

YEREVAN, May 27. /ARKA/. Araratbank’s securities turnover rose to 1.5 billion drams in five months of 2014, more than three times as much as in 2013, general director of NASDAQ OMX Armenia Konstantin Saroyan told reporters Monday.

This turnover was 480 million drams in 2013, he said.

Not only the number and the volume of placements, but also total turnover indicate that the bank is active in the market. Apart from this, the interest to the bank’s securities in the market promotes supply outstripping the demand, Saroyan said.

Araratbank issues securities in 2007, 2008, 2009, 2011, 2012 and 2013, with two of these issues in US dollars. The bank is planning another issue of dollar bonds worth $1 million in the period from May 31 to June 2, 2014. Turnover in the secondary market was over 980 million drams on dram bonds and about $1.2 million on dollar bonds.

Araratbank, previously called Haykap Bank, was founded in 1991 and provides a full range of banking services to corporate, MSME and retail customers. The bank has established a reputation as a small but reliable and dynamically growing financial institution. EBRD holds 25% in Araratbank. The majority stake is held by Barsegh Beglarian, head of the biggest petrol importing company Flash.

The bank’s assets were 131.78 billion drams as of April 1, 2014 (5.2% increase against the beginning of the year); liabilities amounted to 111.2 billion drams (5.3% increase), capital – 20.57 billion drams (4.8% increase) and loan investments were 61.4 billion drams (3.3% increase). The bank’s profit totaled 1.1bln drams in the first quarter, an increase of 51.4% compared to the same period of the year before. ($1-413.31drams). –0--


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