Armeconombank to pay dividends to its shareholders for 2015

28.06.2016 14:46
Armeconombank to pay dividends to its shareholders for 2015

YEREVAN, June 27. /ARKA/. Armeconombank will pay dividends to its shareholders for 2015 in accordance with calculations based on a 14-percent annual interest rate, Saribek Sukiasyan, the chairman of Armeconombank’s board, said Friday at an annual assembly of the bank’s shareholders.

In his words, the bank has more than 3,000 shareholders now.

This dividend payment, he said, shows that the money invested in the bank ensures stable income to investors and attracts new shareholders.

Sukiasyan said that 2015 was a successful year to Armeconombank. It was marked with important achievements, progress and expansion of cooperation with international financial organizations.

He said the number of the bank’s clients reached 133,600 in 2015, and this shows the growing public confidence in Armeconombank.

“In 2015, the bank ensured a significant growth in its general indicators, compared with 2014,” he said. “In particular, the bank’s total assets grew 17.9%, loan portfolio 13.7%, liabilities 7.7% and total capital 35.5%.”

Sukiasyan said the bank has offered new services to small and medium entrepreneurs and other categories of clients. He singled out lending for local shoemakers and a preferential package for teachers among them.

Armeconombank was registered in 1991. Its shareholders are EBRD (20%), Saribek Sukiasyan (22.6%), Khachatur Sukiasyan (19.5%) and Robert Sukiasyan (15.3%).

Armeconombank’s assets totaled AMD 108.2 billion and liabilities AMD 88.5 billion in the first quarter of 2016.
Its total capital amounted to AMD 19.7 billion, authorized capital 6.33 billion and loan portfolio AMD 57.2 billion.

The bank earned AMD 104.5 million as net profits over the first quarter.

Armeconombank has 41 branches, of which 20 are located in Yerevan, 20 in Armenia’s provinces and one in Nagorno-Karabakh Republic. ($1- AMD 476.02). --0--

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