YEREVAN, December 24. /ARKA/. Ardshinbank opened its renovated branch in Vanadzor on Tuesday, the bank's press office reports.

Retail Business Director Arthur Gyulyazyan congratulated the staff of the branch, clients and guests at the opening ceremony and said it was another step in the program of improvement of the bank's branch network. The address of the branch is 38, Grigor Lusavorich.

According to the press release, other measures have been taken to improve procedures connected with servicing clients in the branch and its interior has been furnished properly in tune with the bank's brand and style.

Ardshinbank CJSC (Ardshininvestbank before renamed Ardshinbank on November 13, 2014) was registered in February 2003. The bank is among leaders in Armenia’s banking sector for all general indicators and it enjoys Moody’s Ba3 rating with stable outlook.

Ardshinbank has 55 branches, one of the largest branch networks in the country.

In early 2014, Ardshinbank attracted $18 million from international investors in syndicated loans. It was the first Armenian banks to strike such a deal without support from international donor organizations.
The bank was also the first private company in Armenia to make inaugural bond emission at international financial market and attract $75 million.

Ardshinbank's assets totaled more than AMD 273.1 billion and liabilities AMD 226 billion in early October 2014. Its loan portfolio amounted to AMD 182.9 billion and capital to AMD 47.1 billion.
The bank's net profit in the third quarter 2014 amounted to AMD 4 billion – 2.06% less than it gained in the same quarter of 2013. ($1 – AMD 458.51).  -----0-----