by Erik Abrahamyan
On 15th January 2014, ARDSHININVESTBANK published its preliminary financial results for the year 2013, continuing to demonstrate a sustainable growth. By results of the year, the Bank has strengthened its position among the top three of the banking system by all key indicators. The comparative dynamics of main financial indicators for 2013 compared to the year 2012 is as follows: Indicator As of 31/12/13 Increase Growth rate
(AMD, billion) (AMD, billion) Net income 6.5 2.3 53.6%Assets 271 72.3 36.4%Loan portfolio 176.1 41.5 31.0%Customer funds 153.2 38.8 33.9%Total Capital 44.2 8.4 23.3%
As a result of deepening cooperation with international financial institutions, during 2013 the Bank managed to attract additional long term resources of non-treasury origin from the following financial institutions: Partner-Financial Institution Funding volume WorldBusiness Capital (WBC) $ 10.0 mln Asian Development Bank (ADB) $ 6.0 mln Atlantic Forfaitierungs - 2.9 mln Euro Citibank $ 2.3 mln Rosselkhozbank $ 1.2 mln Landesbank - 0.5 mln EURO
At the end of 2013, the quantity of permanently active customers increased by 19.4% (to around 221 thousand customers). Meanwhile, the sustainable growth of the Bank has recently been affirmed by Moody's Investors Service, which raised the outlook of the Bank's ratings to "stable".
According to the Financial Rating of Armenian Banks prepared by Arminfo, in 2013 the assets of Ardshininvestbank grew by 36,5% up to 270.9 billion AMD. In their structure the requirements to the banks and other financial organizations grew more than twofold - up to 11.4 billion AMD, the credit portfolio - by 31% up to 176.1 billion AMD. At the same time, general liabilities of the bank for the reported period grew by 39,3% up to 226.7 billion AMD. As a result of activation at the credit market, the bank finished the 2013 with a net profit 6.5 billion AMD, by 53,6% more versus 2012.