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"Daredevils of Sasoun" group disclaims Police reports: Skirmish occurred in area of seized building not on neutral territory

Deputy Minister of Economy does not specify final date of Armenia-EU new framework agreement

Tigran Balayan: Armenia's leadership has repeatedly commented on normalization of relations with Turkey

Wounded members of "Daredevils of Sasoun" undergo surgery

Armenian Police make statement on past night's skirmish

Armenian Police: Armed group that seized Police Patrol Service Regiment has burnt three police cars in territory of seized building

Two members of armed group "Daredevils of Sasoun" wounded overnight and taken to hospital

Rebels burn two police cars on territory of seized building

Newspaper: Zhirayr Sefilyan does not refuse from the demand of Serzh Sargsyan's resignation

Oppositionists at Khorenatsi Street demand from Armenian authorities to refute information that armed groups from Chechen Republic are arrivING in the country

In H1, Anelik Bank registered growth of incoming money transfers by 26% y-o-y amid growth of outgoing transfers by 41% y-o-y

Charges pressed against three citizens for using violence against policemen in Yerevan

Founding Parliament: Helicopters of the 102nd Russian military base are on the way to Yerevan

National Security Service of Armenia reports new detentions and exposure of criminal group tied with "Daredevils of Sasoun"

Charges pressed against six citizens, another six citizens detained related to mass disorders in Yerevan

Delegation of Armenian Armed Forces General Staff travels to Minsk

National Security Service of Armenia calls on "Daredevils of Sasoun" to display their reasonableness, put down arms and surrender

Forecast: Precedent of "Daredevils of Sasoun" may spark more attempts of radical steps against authorities

Oppositionist says major topic of possible Sefilyan-Sargsyan meeting will be peaceful resolution of standoff rather than resignation of president

Members of opposition group threaten with civil disobedience throughout Armenia

Viva-Cell MTS offers roaming in Europe at special tariffs

TUMO Center for Creative Technologies to open in Koghb, near border village in Tavush region

Vitaly Balasanyan assures: President will invite Jirayr Sefilyan for a talk, after "Daredevils of Sasoun" put down arms and surrender

Democratic Party of Armenia comes out from political position, as standoff continues in Yerevan

Azerbaijan keeps violating ceasefire on Karabakh-Azerbaijan Line of Contact

Night at seized police patrol service station passed without incidents: Standoff in Yerevan enters day 8

"Daredevils of Sasoun" burn police car

Mass media: Activist Ani Navasardyan detained on charge of provoking mass unrest

Serviceman of NKR Defense Army killed from adversary's shot

Group of journalists arrives at seized building of the Police Patrol Service Regiment

Investigative Committee: Charges pressed against three citizens of Armenia for participation in mass disorders

"Sasna Tsrer" released the rest two hostages -Osipyan and Yeghiazaryan

Russian Foreign Ministry criticized EU's statement on events in Yerevan

Major General Vitaly Balasanyan provides details of his meeting with "Daredevils of Sasoun"

Armenian Foreign Ministry verifying if there were citizens of Armenia among Munich shooting casualties

National Security of Armenia confirms: Members of armed group voluntarily release two of four hostages

National Security Service of Armenia says two persons tied to armed group detained

Nikol Pashinyan: Levon Ter-Petrosyan and Serzh Sargsyan plot yielding territories around Nagorno Karabakh to Azerbaijan

"Daredevils of Sasoun" reportedly releases two of four hostages

NKR Defense Army soldier wounded, as Azerbaijan violates ceasefire

Armenia and UAE sign agreement to boost and protect investments

Sharmazanov: It is more likely that Kura River changes its course and falls into Black Sea than Karabakh becomes part of Azerbaijan with any status

Galust Sahakyan: Talks on possible resignation of Armenian government are rumors

Russian political scientist: Destabilization of situation and pressure on authorities prevail in "Sasna Tsrer" group's actions

Statements that five districts adjacent to Nagorno Karabakh will be passed to Azerbaijan exert pressure on the process, Bryza says

Levon Ter-Petrosyan: It is senseless to analyze the reasons that led to armed seizure of state building

President: In Armenia problems are not settled through brutal force and hostage taking - this situation continues longer than we can afford

Serzh Sargsyan: Punishment of those guilty inevitable

Newspaper: After talks with "Daredevils of Sasoun," Vitaly Balasanyan met with Serzh Sargsyan

Social media warn: physical attack prepared on Nikol Pashinyan

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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