ARARATBANK summed up 2015 annual results

Today on 17 June 2016 the annual general meeting of shareholders of ARARATBANK OJSC has been held in Mantashov Hall, Elite Plaza Business Center. Having summed up the performance indicators of the bank for 2015, the general meeting of shareholders approved the Executive Board annual statements, accounting reports and profit distribution according to the annual results.  

Despite external economic shocks and unfavorable internal macroeconomic environment, in 2015, ARARATBANK managed to carry out the tasks set before it. At the end of the reporting year the bank’s net profit stood at AMD 942 million, assets at AMD 132,0 billion, loans at 66,1 billion, liabilities at AMD 109,5 billion and deposits attracted from customers stood at AMD 59,3 billion.  

Increase of the number of customers by 6.5% and plastic cards by about 4% as compared to the previous year should be especially marked out among the indicators evidencing the growing trust and reputation of the bank. High growth indicator in terms of utility payments was also reported, totaling AMD 15,766 million. This indicator has grown by 19.4% as compared to the year-end figure of 2014.    

In 2015, the bank also reported a number of important events. 

Global Finance world-renowned magazine named ARARATBANK as the best trade finance provider in Armenia in 2015, taking into account the transaction volume of international trade finance, scope of global coverage and high level of customer service.

Within the framework of the Trade Facilitation Program (TFP), ARARATBANK OJSC was recognized by the European Bank for Reconstruction and Development (EBRD) as the most active issuing bank in Armenia in 2014. 

Austrian Raiffeisen Bank International AG has honored ARARATBANK with STP Quality Award for ensuring high-quality SWIFT remittances. 

Already for the fourth year running, at the Best Exchange Member annual awards ceremony, held by NASDAQ OMX ARMENIA OJSC, ARARATBANK was recognized as the Best Exchange Member for operating actively on all platforms of exchange and the Best Exchange Member in Credit Resources Market already for the third year running. 

It should be also mentioned that the General Meeting of Shareholders has made a decision to issue and place 483,230 additional shares through private placement for the purpose of increasing the bank’s capital by AMD 8,5 billion.