YEREVAN, September 4. /ARKA/. Bank Anelik intends to become profitable again by the end of 2014, chairman of the bank’s board Nerses Karamanukyan said.

Some profit is recorded on transactions, and August losses are 500 million drams compared to about 810 million at the end of June, Karamanukyan said.

Since 2012 Bank Anelik has suffered losses that totaled 1bln 464mln 505 drams at the end of 2012 and 1bln 444mln 239 drams at the end of 2013.

In order to rectify the situation the bank is taking measures some financial rehabilitation measures and is attracting new assets in particular. In September the bank is planning to replenish its capital by a billion drams, Karamanukyan said. Apart from this, some more branch offices will be opened in Yerevan and the provinces.

Bank Anelik was established on July 9, 1990, and got registered on October 1, 1991.
In October 1996, the bank received its license from the Central Bank of Armenia.

Back in July 2009 CreditBank S.A.L., one of the leading Lebanese banks, obtained 51% of Bank Anelik’s shares. CreditBank S.A.L. increased its share to 89.95% in 2012 and consolidated 100% of Bank Anelik’s shares in 2013.

As of the end of June 2014, the bank’s assets amounted to 69.2 billion drams (15.3% increase against the beginning of the year); liabilities were 56.9bln drams (21.3% increase), capital 12.3bln drams (6.2% reduction), loan investments 47bln drams (21.9% increase). ($1 – 410.73 drams) –0--