ARARATBANK summed up 2014 annual results

Today on 26 June 2015 the annual general meeting of shareholders of ARARATBANK OJSC has been held in Tigran the Great Hall, Armenia Marriott Hotel. Having summed up the performance indicators of the bank for 2014, the general meeting of shareholders approved the Executive Board annual statements, accounting reports and profit distribution. 

Continuing to maintain its positions among the leading banks of Armenia, in 2014 as well ARARATBANK succeeded in performing the key indicators, such as profit, ROE and ROA indicators, set out under the Strategy Plan. At the end of 2014 the bank’s total liabilities stood at AMD 116,693.8 million. This figure has increased by 10.5 % as compared to the figure of 2013. In the reporting period total capital stood at AMD 21,669,4 million. This figure has increased by 10.4 % as compared to the figure of 2013. Number of customers increased by 13.4%, amounting to 207,595. It should be pointed out that in 2014 ROE stood at 14.1% and ROA at 2.3%. As at the end of the last year the bank’s profit stood at AMD 2,843 million.

In 2014  the bank also reported a number of important events. Already for the second year running, at NASDAQ OMX ARMENIA awards ceremony ARARATBANK was recognized winner in three nominations at a time, such as the Best Exchange Member in Government Bonds Market, the Best Exchange Member in Credit Resources Market and the Best Exchange Member for operating actively on all platforms of exchange. Attaching great importance to the customer appreciation, in 2014 ARARATBANK OJSC conducted NPS survey twice and got 76% positive response from customers. 

In addition, within the framework of the Trade Facilitation Program (TFP), ARARATBANK OJSC was recognized by the European Bank for Reconstruction and Development (EBRD) as the most active issuing bank in Armenia in 2014.