Newsfeed

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Azerbaijan mounts another sabotage attack on Line of Contact, Armenian side has 1 victim and 2 wounded

Helsinki Citizens' Assembly Vanadzor Office urges Armenian Defense Ministry to look into military conscription of a kyphotic young man

Armenia suffers no losses during crossfire initiated by Azerbaijan on Armenian-Azeri border

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Armenia's former prime minister: The indicator of the economic growth in Armenia is extremely low for the first half of 2014

RPA: OSCE Minsk Group Co-Chairs’ latest statement was addressed to Azerbaijan

French citizen lost in Gegarkunik region of Armenia

RPA does not hurry to assess 100 day activity of Hovik Abrahamyan's government

Serzh Sargsyan sees no need in arming of population of border villages

Seyran Ohanyan: Armenia has been putting in place ‘engineering facilities’ along with other measures to prevent attempts by Azerbaijani sabotage groups to infiltrate into its territory

Charges brought against Levon Hayrapetyan

Azeri State Committee for Refugees: Issues of the return of Dilgam Asgarov and Shahbaz Guliyev and the transfer of Hasan Hasanov's dead body are under control of President Aliyev

Armenian Government tries to repay its debts by transferring state-owned enterprises' assets to a U.S. company

Armenian environmentalists comment on Red Book apes imported to Armenia

All U.S. citizens traveling to or residing in Armenia are strongly encouraged to enroll in the Department of State's Smart Traveler Enrollment Program

The ICRC has already started talks to return Azeri saboteur's corpse, Azerbaijani State Committee says

Stepan Safaryan: OSCE Minsk Group prefers stroking naughty Azerbaijan

Edward Nalbandian advises his Azerbaijani counterpart not to use international arena for propaganda

Political expert: OSCE Minsk Group Co-Chairs want to lobby the meeting between Presidents of Armenia and Azerbaijan

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

OSCE Minsk Group Co-Chairs express their serious concern about the increase in tensions and violence in Karabakh conflict zone

Heritage Party considers Volodya Avetisyan to be a political prisoner

Rostelecom expands its sales and customer service network

Arthur Grigoryan appointed commercial manager of mobile communication division at Beeline Armenia

Edward Nalbandian: Armenia wants to start a dialogue on abolishment of visa regime with EU

Edward Nalbandian: Unlike Azerbaijan, Armenia has been consistently proving its adherence to the principles of international law

No third tailing dump in Tukhmanuk

Edward Nalbandian: Turkey, which is striving to the EU, has shut down the border to the neighboring state, whereas a principle of free movement at the EU territory is one of the basic norms

Exclusive

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

Marine Karapetyan: Ameriabank on large business: problems and solutions

Eduard Sharmazanov: The opposition camp has no leader to steer the people

Alexander Zinker: Readiness of the Kremlin to protect its “Big Russian world” is dangerous for Russia itself

Vahe Davtyan: lternative power engineering should be developed regardless of fluctuations in electric power tariffs

Alexander Krylov: Taking into consideration the experience of the EU, Russia has to refuse maximal extension of the Eurasian Economic Union

Rasim Musabekov: Not only global but also the regional geo-political balance is changing

Zardusht Alizade: Apart, Armenia and Azerbaijan will always remain non-democratic fascist states

Thomas de Waal: What was possible between Sweden and Finland in the past century is impossible today between Armenia and Azerbaijan

Zhirayr Sefilyan: The format of our relations with Russia needs revision

Yana Amelina: The West or Russia, that is the question

Gia Nodia: Not the shortage of territories but finding a place in the world is the key problem of Russia

Vladimir Lepekhin: Russia has to pass from “soft force” regarding the USA to the “just force” concept

Ruben Vardanyan: Mergers, amalgamations and bankruptcies are normal processes for any economy

  • by Elita Babayan

  • Monday, June 2, 16:08

 Mergers, amalgamations and bankruptcies are normal processes that should happen in any economy. Ruben Vardanyan, well-known Russian businessman and philanthropist, the founder of the charitable project on construction of an international business school, told ArmInfo on the heels of the official opening of IDeA Foundation in Dilijan, Sunday, when commenting on the falling profits of banks due to the problems of big business in Armenia.  Vardanyan said that Ameriabank that was founded on the initiative of R. Vardanyan in 2007 - editor's note] shows rather good financial results now. 

"Profits may drop and grow. Maintaining the sustainability of a range of bank operations is what the banks should care for. That is why, I hope that despite all the instabilities in both Armenia and the world economy, successful businessmen will manage the crisis and get out off it as strong as before," Vardanyan said.

According to the Ranking of Armenian Banks prepared by ArmInfo, Armenia completed the Q1 2014 with a decline of retained profits by almost 1/3, mainly to due the problems of the big companies with loan service.  The overdue loans to the real sector keep on growing in the banking system of Armenia.  Overdue construction loans grew nearly fourfold, overdue loans to the sectors of services and public catering grew threefold, amid 23% growth of overdue industrial loans. Overdue loans at 5 banks have exceeded the permissible limit. Banks are reluctant to write off the overdue loans waiting for the better times.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields