Araratbank's net income comprised over USD200 000
"According to preliminary data, Araratbank's net income comprised over USD200 000," Araratbank CEO Ashot Osipyan. "The progress is obvious. Naturally, we'd like to see a greater growth, yet it's impossible, under circumstances," he said.
According to Osipyan, the bank has opened 4 subsidiaries within the last 6 months, investments were increased. "Bank's capitalization is being increased, the growth is provided and shareholders are receiving profits," he noted.
"In crisis circumstances, many banks are uniting to easier overcome financial crisis consequences. "We're ready for such consolidation, as it's a normal process. Purchase of another financial organization is on bank's agenda," Ashot Osipyan said.
Araratbank was established as a result of the reorganization of Haykap Bank, operating on Armenian financial market since 1991.
Araratbank was reorganized into closed joint stock company in September, 2005.
Araratbank is functioning as an open joint stock company since August, 2007.
Araratbank is a member of the Union of the Banks of Armenia; it is a partner of the Ministry of Finance and Economy of RA in the area of management of the internal national debt.
Araratbank has been government's agent since 2007 in the field of management of the national debt of RA in the primary and secondary markets; it provides services to 40 customers - both individuals and legal entities.
According to Osipyan, the bank has opened 4 subsidiaries within the last 6 months, investments were increased. "Bank's capitalization is being increased, the growth is provided and shareholders are receiving profits," he noted.
"In crisis circumstances, many banks are uniting to easier overcome financial crisis consequences. "We're ready for such consolidation, as it's a normal process. Purchase of another financial organization is on bank's agenda," Ashot Osipyan said.
Araratbank was established as a result of the reorganization of Haykap Bank, operating on Armenian financial market since 1991.
Araratbank was reorganized into closed joint stock company in September, 2005.
Araratbank is functioning as an open joint stock company since August, 2007.
Araratbank is a member of the Union of the Banks of Armenia; it is a partner of the Ministry of Finance and Economy of RA in the area of management of the internal national debt.
Araratbank has been government's agent since 2007 in the field of management of the national debt of RA in the primary and secondary markets; it provides services to 40 customers - both individuals and legal entities.
