YEREVAN, May 5. /ARKA/. Ardshinbank has published its audited financial results for the year 2016, demonstrating sustainable growth.

“By results of the year, the Bank has strengthened its position among the top three of the banking system by all key indicators holding 2-nd position by assets, loan portfolio, liabilities and customer funds,” the press office of the bank reports.

Net profit for the year 2016 is AMD 4.1 billion AMD (without the results of consolidation of Areximbank).

According to the report, Ardshinbank built up its assets 37% or by AMD 148 billion to AMD 548.4 billion in 2016 and its loan portfolio 30.4% or by AMD 83.6 billion to AMD 358 billion.

Its customer funds grew 45.9% or by 93.6 billion to AMD 297.7 billion and the bank’s total capital grew 47.7% or by AMD 23.1 billion to AMD 71.5 billion.

As part of its relations with international financial institutions, Ardshinbank attracted long-term resources from WBC $10 million, from BSTDB $10 million, from ADB $2 million and from Commerzbank $8.5 million.

In April, 2017 the Fitch Ratings agency has approved Ardshinbank CJSC a B+ Long Term Issuer Dafault Rating and has revised the Outlook from Negative to Stable.

At the end of 2016 the Bank joined with “Areximbank-the group of Gazprombank” CJSC.

In 2016, Ardshinbank paid to the state budget more than 3.1 billion AMD taxes.

Ardshinbank CJSC (Ardshininvestbank before renamed Ardshinbank on November 13, 2014) was registered in February 2003. Ardshinbank has 66 branches, one of the largest branch networks in the country. ($1 – AMD 484.77). --0---