In Q1 2015 Ardshinbank Leading in Loan Growth Rates

In Q1 2015 Ardshinbank has been leading in individuals' loan growth rates - 22.6%. According to Q1 results, the Bank has improved its position among the top three of the banking system ranking the second in terms of total assets, loan portfolio, total liabilities and deposits from customers and the first by the loan portfolio growth indicator. The bank press-office has reported to ArmInfo, that due to its acting on the loan market the bank has improved its position in the TOP-5 of net profit. 

According to the source, in Q1 the bank's assets have increased by 1% - up to 370.2 billion AMD, the loan portfolio - 8.7% - up to 239.1 billion AMD, loans to individuals - by 22.6% - up to 78.6 billion AMD. By results of Q1 2015, the ratio of non-performing loans to gross loans (NPL Ratio) has decreased by 0.1% totaling to 2.9%. During Q1 2015 the Bank attracted additional $16 million from international financial institutions. 

In Q1 the total capital of the bank has increased by 2.3%. As of April 1, 2015 the total capital has reached 48.3 billion AMD. To remind, in Q4 2014 the bank increased its total capital by replenishing the registered fund by 26.6% or 4 billion AMD with the share change of the majority stakeholder from 97.23% to 97.52%.  

As of Q1 2015 net profit of the Bank amounted to AMD 782.7 million - six-fold quarter increase - 66% of which was provided by exchange trading.  

On November 13, 2014 Ardshininvestbank was renamed back to Ardshinbank.  Ardshininvestbank was established in 2002 and has 55 branches (the second biggest branch network in Armenia's banking system). The majority shareholder of the bank is the Center for Business Investments (97.23%). Ardshininvestbank is one of the leaders of Armenia's banking system. It is in top 3 in capital, assets, loans and obligations. Almost 20% of its loans are given to SMEs.