Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Wednesday, April 26, 2017

World Bank responds to article on Armenian displacement

The World Bank issued a response on Monday to an article in Hetq taht said  approximately 440 Armenian citizens have been displaced as a result of projects financed by the World Bank.The article by the International Consortium of Investigative Journalists (ICIJ) was published in Hetq on April 17. The article said the Electricity Supply Reliability Project has negatively impacted residents and that approximately 440 individuals in Armenia were physically or economically displaced. Read More »

EBRD to help Bai Tushum Bank expand loan offerings

The European Bank for Reconstruction and Development (EBRD) and Bai Tushum Bank (BTB) said on Thursday that they have signed an agreement that will let BTB offer longer terms and larger loans to its clients. BTB, one of the largest financial institutions in the Kyrgyz Republic, started out as a micro-financing institution that focused on small loans in the nation's rural areas. It later became a bank and began to increase and diversify its client base. Read More »

Vozrozhdenie Bank reports mixed results in first quarter

Vozrozhdenie Bank (VB) released its results on Thursday for the first quarter, in accordance with Russian Accounting Standards (RAS). In the first quarter, the bank made approximately $460,000 in net profits, a 92.6 percent drop from a year ago, attributed to higher income-tax payments, and overall operating income reached approximately $81 million, a 9.1 increase from a year ago. Read More »