Converse Bank ensures AMD 1bn profit in 2012

Converse Bank ensures AMD 1bn profit in 2012

PanARMENIAN.Net - Converse Bank CJSC ensured over AMD 1 billion profit in 2012, the bank’s executive director said.

In conversation with a PanARMENIANNet reporter, Tigran Davtyan hailed the bank’s activity in 2012 due to the “thorough cleaning up of useless loans”.

According to him, the bank’s total portfolio amounted to AMD 62 billion in 2012, growing by 31% as compared with 2011, with business portfolio grossing AMD 25,3 billion.

“The bank plans to ensure on average 30% loan portfolio growth in 2013,” he said, noting lending to SMEs and expansion of network as Converse Bank’s priorities in 2013.

 Top stories
Maufacturing of tobacco products increased by 49.1% to AMD 94 bn, with production of jewelry also climbing 61% to AMD 18 bn.
Net inflow of remittances to Armenia in the reporting period amounted to approximately $891,4 million, down by 35.8% remitted in 2014.
The EBRD will acquire a stake of around 20% for $30 million. The remaining $10 million will be used for future capital increases.
IFC thus aims to increase the stability of Armenia’s banking sector and support the strategic goals of Ameriabank.
Partner news