YEREVAN, December 18. / ARKA /. Ardshinbank said today it had re-opened its branch in the town of Spitak on December 17 after a major renovation and refurbishment.

"The launch of the renovated branch in Spitak is another stage of a program the bank has designed to develop and improve its branches across the country," Arthur Gyulazyan, retail business director of the bank was quoted as saying in a press release.

The bank said also it carried out a number of comprehensive measures aimed at streamlining the customer service procedures, modernization and complete retooling of jobs and service areas, bringing the interior of the branch in tune with the bank’s brand and corporate style.

Ardshinbank (formerly Ardshininvestbank) was registered in 2003. The main shareholder of the bank is the Center of Business Investments – 97.5169%. Ardshininvestbank operates 55 branches.

Its assets as of October 1, 2014 stood at more than 273.1 billion drams, its liabilities – at about 226 billion drams, lending – at 182.9 billion dram and the capital – at 47.1 billion drams. In the third quarter of 2014 it earned about 4 billion drams in net profit, a 2.06% decline from the year earlier. ($ 1 527.2 drams). -0-