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ARARATBANK TO OPEN 9 NEW BRANCHES THIS YEAR
ARKA
May 31, 2010
YEREVAN
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.
From: A. Papazian
ARKA
May 31, 2010
YEREVAN
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.
From: A. Papazian