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 Tuesday, July 23 2019 15:11
Karine Melikyan

Ardshinbank summed up Q2 2019 with leading net profit, ensuring  unprecedented growth

Ardshinbank summed up Q2 2019 with leading net profit, ensuring  unprecedented growth

ArmInfo.Ardshinbank leads in net profit for the second quarter of 2019 - more than 3 billion drams ($ 6.3 million), ensuring unprecedented growth. According to published  financial reports, for the II quarter this figure increased by 34.6%, and in annual terms - by 2.2 times. This is noted in the message of the bank.

For the first half of 2019, Ardshinbank's net profit exceeded 5.2  billion drams ($ 11 million, 2 position), having increased by 46.5%  year on year.

As of June 30, 2019, the bank's assets amounted to 688 billion drams  ($ 1.4 billion, 3 position), with an annual growth of 9.4%. In their  structure, the share of customer loans accounted for 65% or 445  billion drams ($ 932.2 million, position 3).

Total liabilities of the bank as of June 30, 2019 amounted to 615  billion drams ($ 1.3 billion, 3 position), with an annual growth of  9.6%. In their structure liabilities to customers reached 355.4  billion drams ($ 744.9 million, 3rd position).

The total capital of Ardshinbank as of June 30, 2019 was 72.7 billion  drams ($ 152.3 million, 2 position).  The accumulated profit of the  bank increased in the first half of this year. by 63.1%, and in the  second quarter alone - by 26.7%, reaching 12.5 billion drams ($ 26.3  million).

Note that Ardshinbank was founded in 2003. The majority shareholders  of Ardshinbank as of April 1, 2019 are Arins Group LLC (formerly  called Business Investment Center LLC) with a 67.97% share in the  capital and REGION Industrial and Financial Corporation CJSC -  29.52%. Ardshinbank is the second largest bank in Armenia, which has  one of the largest branch networks, consisting of 63 divisions, of  which 18 are located in Yerevan, 42 - in the regions and 3 - in  Artsakh. The bank has a rating of international authoritative rating  agencies, equal to the country rating of Armenia, which is considered  to be a high rating in the world practice. The Banker magazine of The  Financial Times publishing house recognized Ardshinbank as the best  bank in Armenia in 2018.

 

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