ARARATBANK named by Global Finance the best Armenian Finance Trade  Provider for the 2nd year in a row 

ArmInfo.ARARATBANK was recognized as the best Armenian finance trade provider for the second year in a row according to Global Finance authoritative magazine. The  press service of the bank informs that as a result this is already  the third organization, which names ARARATBANK as the best finance  trade bank of Armenia.  Criteria for choosing the winners included:  transaction volume, scope of global coverage, high quality of  customer service, competitive pricing and innovative technologies.

The names of the winner banks were revealed at the BAFT Global Annual  Meeting in Madrid on January 18. Analysts and editors of Global  Finance, businessmen and independent experts have selected the  winners. 

To note, Global Finance, founded in 1987, has a circulation of 50,050  and readers in 180 countries. Global Finance's audience includes  senior corporate and financial officers responsible for making  investment and strategic decisions at multinational companies and  financial institutions. Global Finance also targets the 8,000  international portfolio investors responsible for more than 80% of  all global assets under professional management.

According to the Express Ranking of Armenian Banks by ArmInfo, in  2016 ARARATBANK increased its loan portfolio by 58.7% to 104.9 bln  drams or $216.7 mln (48.7% of the bank's assets). As a result the  assets of ARARATBANK OJSC increased by 63.3% in the reported year and  amounted 215.6 bln AMD or $445.5 mln. The total capital of the bank  increased by 47.6% to 33.2 bln drams due to replenishment of the  registered capital 2- fold to 16.8 bln drams (due to issue of stocks  in November 2016 and merge with Armenian Development Bank in December  2016). General obligations totaled 182.4 bln AMD or $376.9 mln (up  66.4%), 58.7% of which are time deposits and call liabilities (2-  fold growth in absolute terms) and 30.2% are funds attracted from  international financial organizations (14.6% y-o-y growth).  ARARATBANK has been operating since November 2005. Following the  recent issue of shares in November, in the structure of the  shareholders' capital 72.73% belongs to Flash oil trader, 18.14% - to  the EBRD, 8.58% - to the Rural Impulse Fund II, with the remaining  0.55% distributed among 82 minority shareholders. ARARATBANK has 54  branches (4th position):  27 in Yerevan, 26 in the provinces and 1 in  Nagorno-Karabak. Considering the network of Armenian Development Bank  the total number of branches reaches 63.