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
The sides will sign the agreement on the construction of the power unit, once the preparatory work is over, the Energy Minister said.
4.2% increase in the economic activity index was mainly conditioned by this year’s positive dynamics in agriculture, an official said.
Head of Rosatom Sergey Kiriyenko and Armenia's Minister of Energy and Natural Resources Yervand Zakharyan signed the deal.
Around 10.6% will be spent on economy, 7.2% will be used to repay Armenia's debts, 3.5% will go the communities as budget subsidies.
Partner news