Rostelecom (Armenia) initiated free trainings for improving senior citizens' computer literacy

Frontier Department of Russian Federal Security Service is always ready to defend state border of Armenia

Dashnaktsutyun: Many in power circles oppose constitutional reforms because they benefit from current situation

Zhirayr Sefilyan: Most of armed group members detained by National Security Service are victims

President of Football Federation of Armenia says no one should edge into his talk with national football team

In Armenia people prefer sons to daughters, acoording to a UN survey

Republican Party says forces opposing parliamentary system of government once advocated for it

Zhirayr Sefilyan: Serzh Sargsyan will have to choose between fate of Ceausescu and Yanukovic

Armenian MP: Downing of Russian plane draws world's attention to problem of Turkey's cooperation with terrorists

Yevgeny Kaspersky: Armenia has to enlarge quantity of skilled specialists through advanced educational programs

Hovik Abrahamyan is sure that 30% of Shirak's population will vote "for" constitutional amendments

Union of Armenians of Russia supports Russian lawmakers' bill penalizing Armenian Genocide denial

Players of Armenian football team deny accusations by Ruben Hayrapetyan

New Armenia Front ready to assist law enforcers in public order and national security enforcement

Maria Zakharova: Turkey's stab in the back of Russia will not be left without response

Russian experts: Turkey will not go beyond inflammatory rhetoric in Karabakh issue

FPWC and VivaCell-MTS provide street lighting to Gomq community of Vayots Dzor region,

Sociologist: One-third of enterprises registered in SME segment of Armenia do not function

Defense Ministry: Nothing threatens Armenian peacekeeper's life in Mali

Syunik Governor says residents in his region will sure vote for Constitutional amendments

Rostelecom to hold events enhancing computer literacy in Armenia

Ameriabank signs 25 mln USD syndicated loan agreement with FMO and OeEB for financing of SME and renewable energy

Ucom subscribers can pay for services at VTB Bank (Armenia) round the clock

Baku criticizes Russia24 channel

Prosecutor General's Office institutes a criminal case based on files submitted by Levon Zurabyan

Beeline Armenia CEO presented "Success Path" lecture for Leaders' Club members

National Philharmonic Orchestra has marked closing of concert season 2015, emphasizing role of VivaCell-MTS in implementation of initiatives of orchestra

Court upholds motion of Armenia's National Security Service to arrest Arthur Vardanyan

All countries of CIS Inter-Parliamentary Assembly, except Azerbaijan, condemn downing of Russian plane by Turkey

National Security Service of Armenia: Detained citizens start giving evidence

Naryshkin to Ankara: Crimes of the past should be condemned properly

Raffi Hovannisian's political passivity reason is two weddings and several funerals

Expert: Promises of paradise in Armenia "roam" from one constitutional referendum to another

Yerevan: Selective approach to principles and elements in Karabakh peace process will make settlement impossible

Illegitimate regime that seized power in Armenia must leave: Raffi Hovannisian

New Armenia Front: Zhirayr Sefilyan's wife attacked

Zhirayr Sefilyan: KGB-style government in the country remained in the past

INECOBANK launches "InecoQuest" adventure contest under "Open the cashbox full of millions" motto

Geoteam CJSC invested 240 thousand USD in its social projects in 2015

VivaCell-MTS: From now on "Personal", "City Talks" and "Special" tariff plans are also available to non-residents living in Armenia

German Ambassador: Terror attacks in Paris were aimed not only against France but all Europe and pan- European values

Armenian National Congress: Information that one of criminal group's detainees is connected with opponents of Constitutional reforms is dirty propaganda

Call Center of VTB Bank (Armenia) daily serves an average of 3000 incoming and outgoing calls

Beeline "Call Me +" service subscribers can send messages abroad requesting to call back

Levon Zurabyan to provide Prosecutor General with video showing attempts to bribe "No!" Front proxies

Minister says situation around Football Federation of Armenia will come to light soon

SCR achieves profitability due to rigid balance between revenues and expenses and launch of resource- saving projects

Deputy Minister of Foreign Affairs of Armenia welcomes possible criminalizing of Armenian Genocide denial by Russia

Deputy Foreign Minister: Use of Russian military base in Armenia should be agreed with Armenia

Hovhannes Sahakyan to Levon Ter-Petrosyan: Profound Constitutional reforms will help Armenia to counter external challenges

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, 01:32

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.

Send to a friend

To (e-mail)

Your name



View comments (0)

Be first to comment on this article

* Indicates required fields