Araratbank to open 9 new branches this year
01.06.2010,
00:50
Privately-owned Armenian Araratbank said today it will open 9 new branches this year. The Bank’s executive director Ashot Osipyan told reporters after the annual meeting of its shareholders that the Bank runs now 29 branches.
YEREVAN, May 31, /ARKA/. Privately-owned Armenian Araratbank said today it will open 9 new branches this year. The Bank’s executive director Ashot Osipyan told reporters after the annual meeting of its shareholders that the Bank runs now 29 branches. Two branches will open in June, one in the town of Sevan and the other in Yerevan, and 7 more later in the year, he said.
Araratbank provides a full range of banking services, focusing primarily on micro, small and medium-sized enterprises and retail clients. Some 74.1% of its shares belong to Barsegh Beglarian, the owner of Flash petrol trader, the EBRD’s stake is 25%+1 share.
According to ARKAs data, on March 31 Araratbank’s assets stood at 41.2 billion Drams, liabilities-at 33 billion Drams, its total capital was worth 8.3 billion Drams, chartered capital was worth 6.1 billion Drams, credit investments-18.9 billion Drams. In the first quarter of this year it earned 304 million Drams in net profits. -0-
Araratbank provides a full range of banking services, focusing primarily on micro, small and medium-sized enterprises and retail clients. Some 74.1% of its shares belong to Barsegh Beglarian, the owner of Flash petrol trader, the EBRD’s stake is 25%+1 share.
According to ARKAs data, on March 31 Araratbank’s assets stood at 41.2 billion Drams, liabilities-at 33 billion Drams, its total capital was worth 8.3 billion Drams, chartered capital was worth 6.1 billion Drams, credit investments-18.9 billion Drams. In the first quarter of this year it earned 304 million Drams in net profits. -0-
