Anelik Bank switches to client-oriented model of growth 

ArmInfo. Anelik Bank switches to a client- oriented model of growth, New Chairman of Anelik Bank Council Vartan Dilanyan informed at the press conference on December 20.

''We certainly first of all want Anelk Bank with its image of stable  bank and conservative policy to be also a client oriented bank.  Clients' convenience, diversity of products and simplicity of using  them are the core element and competitive advantage, based on which  we will build our client-oriented model of growth'', he said.  According to Dilanyan in nowadays conditions Anelik Bank has an  opportunity in Armenia to become one of the leading financial  institutions. ''We have ambitious plans, we are optimistic about  future and currently we are working on a profound plan of strategic  development'', he noted. 

According to Dilanyan the new strategy envisages expanding banking  services for retail clients in order to attract young generation and  progressive entrepreneurs to the Bank.  ''We are oriented on  progressive groups of Armenian society'', he stressed. At the same  time the new shareholder informed that within mid-term and long-term  tasks it is planned to introduce modern IT solutions. "Our task is to  introduce best international practice in the Armenian banking  market", he said. Among long-term goals Dilanyan mentioned work on  making Anelik Bank a center of servicing flows between various  branches of Armenian diaspora, including in Russia and CIS.

Dilanyan explained his decision to become a shareholder of the Bank  with a combination of factors, the bank's quality and negotiations  with shareholders. "Usually, having a foreign investor demonstrates  that the bank adheres to quite conservative methods of management and  this is an important factor for me", he added. At the same time  Armenian Central Bank's policy aimed at maintaining stability in the  banking sector also influenced the decision to invest in the banking  sector of Armenia, Dilanyan noted. 

 "I think we will be able to build a successful long-term model of  growth. The bank has a quite ambitions task. Due to $50 mln  investments we will make the bank a progressive and client-oriented  financial institution aimed at long-term successful development",  Chairman of Council of Anelik Bank V. Dilanyan stressed.  To recall,  Anelik Bank CJSC announced in the beginning of November that it has  replenished its authorized capital by AMD 21.8 billion to 39bln drams  due to placing 405.511 shares through closed subscription. As a  result the bank's total capital increased to 36.7 bln drams (from  previous 14.9 bln drams as of October 1). These shares were purchased  by Cyprus FISTOCO LTD, the share of which in the bank's capital  totals 59.68%, as a result the share of previously  sole shareholder  Lebanese Bank CreditBank S.A.L decreased from 100%  to 40.32%.  Tarek  J. Khalefe (CreditBank S.A.L) and Vartan Dilanyan (FISTOCO LTD) are  indirect majority shareholders. The shareholders brought together a  new Council of the Bank comprising experienced and senior market  professionals. Vartan Dilanyan (Managing Director of "Accenture" Ltd)  became the Chairman of the Council. The Board of the bank did not  face any changes and is head by Nerses Karamanukyan.