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.