Armenia's Ardshininvestbank published its financial results for the first half of 2014 on Thursday, showing strong and sustainable growth.
During the first half, the bank's net profit amounted to $7 million--an increase of 36.2 percent from the same period last year.
Assets grew 2.2 percent from the same period in 2013, the loan portfolio was up 3.6 percent, customer funds expanded 13.7 percent and total capital grew 3.9 percent.
During this period, the bank also added 3,300 permanently active customers, bringing the total number of customers to more than 224,000.
Meanwhile, Ardshininvestbank announced that it has signed a $18 million syndicated loan agreement with Citibank, representing its first syndicated deal in the bank loan market without multilateral agency support.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme