Friday, January 23 2015 14:42

On 20 January 2015, ARDSHINBANK published its preliminary financial results for the year 2014, continuing to demonstrate a sustainable growth, the press service of ARDSHINBANK has told ArmInfo. 

By results of the year, the Bank has strengthened its position among the top three of the banking system by all key indicators. Net profit income for the year 2014 has been AMD 4,2bln.  The comparative dynamics of other main financial indicators for 2014 compared to the year 2013 is as follows: 
The share of loan portfolio in the total assets of the Bank dropped from 64% to 60%, while its absolute value grew by 27.8% to 220.1 bln AMD. The assets rose by 37% to 369.1 bln AMD. As a result of deepening cooperation with international financial institutions, during 2014 the Bank managed to attract additional long-term resources of non-treasury origin from the following financial institutions: CITI syndicated - $18 mln, J.P. Morgan - $75 mln, BSTDB and EDB - $10 mln. 
The Bank's total obligations increased by 43% to 321.7 bln AMD. Almost 57% of them are customer funds (call and time deposits). Their absolute value rose by 14.9% to 182.8 bln AMD. 

The total capital grew by 7.4% to 47.4 bln AMD due to replenishment of the authorized fund by 4.1 bln AMD (or by 26.5%) to 19.6 bln AMD. So, the share of the authorized capital in the total capital increased from 35% to 41%, and the share of the accumulated profit dropped from 54% to 50%. The accumulated profit increased from 23.8 bln AMD to 23.9 bln AMD. 

At the end of 2014, the quantity of permanently active customers increased by 1.7% (to around 225 thousand customers).
To note, on 13 Nov 2014, Ardshininvestbank CJSC was renamed into Ardshinbank CJSC. The Central Bank registered the bank in Feb 2003. In March-May 2003 the Bank acquired the lion's share of assets and liabilities of Ardshinbank OJSC with its branches (24), and in November it acquired the major part of Agrobank OJSC's business with its branches (35). Since that moment, the branch network of the Bank has been one of the largest ones in the country - 55 branches (2nd position). The Bank is traditionally among the leaders of the Armenian banking system by its key indices. In particular, the Bank is among the top three in terms of total capital, assets, lending, total liabilities, and customers funds.