YEREVAN, JANUARY 19. / ARKA /. Yerevan-based Anelik Bank CEO Nerses Karamanukyan said today the Lebanese-owned bank closed last year with a net income of 335 million drams after sustaining losses for two years in a row.

Speaking to a news conference he said the profit before tax stood at 538 million drams. He said this figure compared to more than 1.4 billion drams in losses the bank incurred in 2013.

According to Karamanukyan, the bank's assets grew last year by 45% to 87 billion drams, up from 60 billion drams in 2013; its liabilities grew by almost 55% to have reached 72.6 billion drams, while its loan portfolio surged by almost 50% to 58.6 billion drams.

He said these indicators allow to name Anelik Bank as one of the fastest growing banks in Armenia. He attributed high performance indicators to the revision of the bank’s strategy in 2013, introduction of new approaches for attraction of new resource, improved lending and customer services, as well as by an increase in non-interest and interest income which he said is consonant with the growth of the portfolio and reduced administrative costs.

He said the bank was able to stabilize all the indicators in 2014 to secure a sufficiently high liquidity, which according to Karamanukyan will l allow to increase earnings in 2015 as well.

Anelik Bank established in 1990 is owned fully by Lebanese CreditBank ($1 – 478.28 drams). –0–