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Zardusht Alizade: After Ukraine and Syria, Putin wants to play a peacekeeper’s role in Karabakh

Azerbaijani Armed Forces again shelling Armenian positions

Nagorno-Karabakh Defense Army: Adversary will receive response for its actions

Two servicemen of Nagorno-Karabakh Defense Army die in conflict zone

Hrant Bagratyan stresses the need to expand the scale of dismissals in Armenian Defense Ministry system

Head of EU Delegation to Armenia: Both Armenians and Azerbaijanis should prepare for peace

Parliamentary forces of Armenia ready to sign "gentleman's agreement" on excluding pre-election bribes

Mammadyarov to Sargsyan: Conditions put forward for resumption of negotiations undermine peace process on settlement

Azerbaijani FM: Russia has offered a phased solution to the Nagorno-Karabakh conflict

Zaruhi Postanjyan: Large-scale armed hostilities in Artsakh are yet to start

Armenian delegation comments on the ban on Artsakh flag at Eurovision Song Contest

UITE: 300 specialists and 50 companies in IT sector and engineering willing to contribute to development of Military Industrial Complex of Armenia

Sharmazanov to Mammadyarov: Baku will not succeed in its attempts to throw dust in eyes of international community

Armenian PR Association to establish with Beeline's support the first national PR award in Armenia

Areximbank-GPB Group staff members visit schools in Armavir region under My Finance Month-2016 project

Armenia's Parliament Vice Speaker: No negotiations are possible unless Azerbaijan stops violating ceasefire

U.S. Congresswoman Loretta Sanchez Calls for Leahy Law Investigation of Azerbaijani Abuses

Bako Sahakyan says Karabakh will cede no land and urges world community to reconsider its attitude towards aggressor

Bako Sahakyan: Karabakh conflict cannot be settled, unless Artsakh in involved in peace talks

Konstantin Kosachev: Turkey's stance on Karabakh encourages of one the sides to the conflict to continue it

Azerbaijan continues violating ceasefire arrangements

Armenian Defense Ministry registers 18 incidents on border with Azerbaijan

SCR: Number of railway casualties in Armenia keeps increasingly growing

Ankara hopes Karabakh conflict will be resolved with due regard for 'sovereignty' of Azerbaijan

Beeline extends functions of My Beeline Armenia application

Nikol Pashinyan: Opposition exaggerates Electoral Code's role in holding fair elections

France-Karabakh Circle of Friendship perplexed by lack of Paris' official reaction to Baku's explicit threats

Nagorno-Karabakh Defense Army presented evidences of rocket bombardment of Mataghis by Azerbaijani armed forces

Central Bank of Armenia approves merger agreement of ProCredit Bank and INECOBANK

Stratfor forecast: Military escalation will continue to be a possibility in Nagorno-Karabakh, with effects that reach far beyond the bounds of the small contested territory

EU supports peaceful resolution of Karabakh conflict, Malena Mard says

Azerbaijan's armed forces fire more than 240 rounds at Karabakh positions and target Mataghis populated area overnight

Armenia's Defense Ministry: Azerbaijan shells at state border with Armenia

U.S. Department of State: We have remained in contact with both governments and we need to see the peace process back up and running as soon as possible

Manvel Sargsyan: Armenia due to reconsider fundamentally its 20-year-long policy towards Russia

Seyran Ohanyan: There will be no new dismissals in Armenia's defense system

Nagorno-Karabakh Defense Army: Adversary's movements noticed on northeastern direction of line of contact

Artsrun Hovhannisyan: Situation in Artsakh is quiet at the moment

Yerevan: The time has come for international community to call Baku to order by using specific measures

Arpine Hovhannisyan: Mihran Poghosyan case is being investigated

Russian foreign ministry: the primary task is to exclude regular outbreak of aggression

Three Armenian servicemen wounded on Line of Contact of Nagorno-Karabakh and Azerbaijani troops

Investigative Committee: Identity of the second killed passenger is established

National Revival: Hermine Naghdalyan's statement is a stab in the back of Artsakh soldier

Communist Party of Russia suggests Vladimir Putin to deploy missiles in Cuba to protect Russia and Armenia

Russia thinks military contacts of Baku and Yerevan may be continued

NKR Defense Army: Baku's reports that Armenian side allegedly uses ammunition banned by international conventions are delirium

Oskanian's party not to demand Serzh Sargsyan's resignation

Stepanakert condemns Baku's attempts to denounce unilaterally the trilateral cease-fire agreement of 12 May 1994

Russian Foreign Ministry: Contribution to search for optimal solutions in Nagorno-Karabakh peace process continued

Regional

Anelik Bank intends to replenish its capital by 1 bln AMD by late 2014 and start the year 2015 with profit

  • by Siranush Manucharyan

  • Thursday, September 4, 06:32

Anelik Bank intends to replenish its capital by 1 bln AMD by late 2014 and start the year 2015 with profit, Nerses Karamanukyan, Chairman of the Board of Anelik Bank, has told ArmInfo when commenting on the Bank's plans to start operating at a profit.    

According to the Financial Rating of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo), as of 1 July 2014, the accumulated loss of Anelik Bank amounted to 2.3 bln AMD, the net loss in the first half year 2014 totaled 810.5 mln AMD (307.1 mln AMD in Q2 alone). The Bank's loss quarterly dropped by almost 40%, and in the first half 2014 the loss declined almost 2-fold as compared with the first half 2012. As soon as CreditBank S.A.L. (Lebanon) became the sole owner of Anelik Bank (in September 2013 the Lebanese bank's stake increased from 89.95% to 100%), it decided to boost the retail services and SME lending in Anelik Bank's activities. The Bank actively launched retail credit products, including card products on attractive terms and with a facilitated procedure of provision.  This process is still underway and the Bank's products enjoy a big demand. As of 1 July 2014, Anelik Bank took the lead in annual and quarterly growth rates of retail lending - 20-53%. This allowed the Bank to come close to the top ten banks in Armenia. Along with this, Anelik Bank is quite successfully carrying out its plans on boosting the SME lending. In the first half 2014 the Bank increased the SME lending by 84.3% (33-38% quarterly growth). The maintenance of such high growth rates in these dimensions gives grounds to suppose that the Bank will manage to zero its accumulated loss and start operating at a profit not only due to the upcoming capitalization, but also due to the growth of revenues in the balance sheet as a result of active lending. It is also noteworthy that Anelik Bank is implementing a strategy on expansion of its branch network. 

Earlier Nerses Karamanukyan pointed out that the successful implementation of the tasks would allow Anelik Bank to considerably improve its positions and join the top five within the next few years. The management of CreditBank S.A.L., in turn, expressed willingness to help Anelik Bank in every possible way to improve its positions and gain a foothold on the list of Armenia's leading banks. 

To recall, CreditBank S.A.L. (Lebanon) announced its joining Anelik Bank's capital in February 2009. In June 2009 it acquired 51% of the Bank's shares. As a result, the share of each of the previous four shareholders dropped from 25% to 12.25%. Afterwards, in Q2 2011 one of the shareholders withdrew from Anelik Bank's capital and the Lebanese bank's stake grew to 69.5%. In Q3 2012 CreditBank S.A.L.  increased its stake to 89.95%. In October 2013 the Lebanese bank's stake rose from 89.95% to 100%, and retail services and SME lending became the priorities in the Bank's activities. Credit Bank, which has been operating in the financial market of the Middle East for over 30 years, has assets worth almost $2.5 bln and 20 branches in Lebanon. 
To note, as of 1 July 2014, the total capital of Anelik Bank amounted to 12.3 bln AMD, assets - 69.2 bln AMD, lending - 47.4 bln AMD (68.5% of the Bank's assets), liabilities - 56.9 bln AMD. The share of time deposits was 56.9% or 32.4 bln AMD, with over 85% of this amount being the funds of individuals. Anelik Bank participates in almost all the international credit programs being implemented in Armenia via the banking system, as well as in the state programs subsidized by the Armenian Government. Anelik Bank was the first in the card market of Armenia to launch and service Visa and MasterCards simultaneously with the local cards.

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