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Araratbank Not to Pay 2009 Dividends to Its Shareholders

01.06.2010 10:55

Araratbank Not to Pay 2009 Dividends to Its Shareholders

YEREVAN, May 31. /ARKA/. The board of Armenian Araratbank has decided not to pay dividends for 2009 to its shareholders, Ashot Osipyan, chairman of the bank’s board and executive director, said Monday after the third annual meeting of the bank’s shareholders.

He told journalists that 2009 was a crisis year, and the bank made large capital investments and opened new branches that year. Besides, the bank invested a great deal in training specialists. “I hope we’ll make our shareholders happy by paying dividends,” Osipyan said.

He said that Araratbank’s net profit reduced to AMD 365 million in 2009 against AMD 475 million in 2008.

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