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Tuesday, September 19, 2017

Armenia's Ardshininvestbank publishes financial results for first half of 2014

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.