YEREVAN, November 24. /ARKA/. Araratbank OJSC has made its 10th emission of foreign currency coupon bonds, which total $2 million.

David Harutyunyan, the deputy executive director of Araratbank, said 80,000 nominal non-documentary coupon bonds, which cost $25 each had been issued. Their maturity term is two years and annual rate is 7%. Coupon payment will be made once in one quarter.

“Araratbank is one of active participants of the securities market, and taking into account that demand for previous emissions was high, this time it offers dollar bonds as well,” Harutyunyan said.

In his words, these bonds, just like formerly issued bonds, will be placed through subscription, which will last from November 25 till December 1.

“Once we used to allocate for subscription more than one week – two or three weeks, but market demand is high today and one week is enough for placing bonds,” he added.

There are no restrictions in subscription – both residents and nonresidents may acquire bonds. They should apply to the bank's head office or any branch for subscription.

“Araratbank is the operator of the Central Depository of Armenia, and this allows the bank to open securities accounts for clients and make bond transactions in a few minutes,” Harutyunyan said.

He said that compared with deposits in foreign currencies, bonds' seven-percent yield and two-year maturity term are quite attractive conditions.

He also added that liquidity of investments is ensured as well. In his words, the attracted money will be lent to small and mid-scale businesses.

“Some 118 transactions with bonds totaling AMD 704 million were made in 2015,” Harutyunyan said.

Araratbank, the heir of Armsvyaz bank, was established in 1991. European Bank for Reconstruction and Development holds 25% of the bank’s shares, 64.25% of the shares belong to Flash petrol trader, and less than 10% to RURAL IMPULSE FUND II SA SICAV SIF.

On January 30, 2009, the bank joined NASDAQ OMX Armenia Stock Exchange.The bank has 33 branches in Armenia.

According to ARKA News Agency’s data, the bank’s assets totaled AMD 62.9 billion and liabilities AMD 52.7 billion in late December 2010. The bank’s total capital amounted to AMD 10.3 billion and net profit for 2010 about AMD 1.3 billion drams.

The bank's assets totaled AMD 125.78 billion in late September after shrinking 9% since the beginning of this year and liabilities amounted to AMD 103.4 billion showing a 11.36% decline. Its capital grew 3% to AMD 22.3 billion. ($1- AMD 481.37). ----0---