Armeconombank envisages increasing its indices by 10-15%June 25, 2010 - 14:27 AMT PanARMENIAN.Net - Vice Chairman of Armeconombank Board Hayk Mkrtchyan said that the bank’s income totaled about AMD 243mln in 2009, what is a good index, taking into consideration the global financial recession. “The crisis has affected the Bank’s growth rates. However, the bank envisages increasing its indices by 10-15% this year,” Mkrtchyan told an annual meeting of the bank’s shareholders. Referring to the bank’s achievements, Mkrtchyan pointed to the opening of the second branch in Gyumri. He added that the bank is going to expand its branches net in those regions, where the bank is not represented. Besides, the bank has become the leader in Armenia’s market of plastic cards. According to Mkrtchyan, a new inflow is observed at the mortgage market, though a significant drop in interest rates was not recorded and currently Armeconombank provides loans at 12-16% annual interest rate. But loans under Affordable Housing to Young Families program are provided at 8.5% annual interest. For her part, Armeconombank Board member Anahit Simonyan noted that AMD 163mln out of the annual profit will be directed for the payment of dividends to shareholders that totals 7% profitability per year or AMD 175/1 share. She added that the nominal value of the bank’s shares totals AMD 2500/1 share, while the book and market costs amounted to AMD 9320 and 7230 respectively in 2009. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Exclusive access to all EURO 2024 games for Ucom subscribers This year once again Ucom stands as the primary partner of UEFA EURO 2024 in Armenia. Pashinyan congratulates Putin on Russia Day Nikol Pashinyan sent congratulatory messages to Vladimir Putin and Mikhail Mishustin on the occasion of Russia Day. Armenia, U.S. to upgrade Strategic Dialogue meeting to Strategic Partnership Commission The two governments have release a statement on the occasion of the U.S.-Armenia Strategic Dialogue Capstone meeting. Azerbaijan complains to Germany about Armenia's constitution Bayramov has complained about the Armenian constitution to his German counterpart Annalena Berbock. |