Kamurj Universal Credit Organization has concluded 2015 with profit of about AMD 370 million.

The company observed that UCO assets totaled AMD 15.6 billion, and the loan portfolio made almost AMD 12 billion by 2015 results.

“Despite the fact that 2015 was a difficult year for the entire financial system, Kamurj UCO was able to end the year with profits of about AMD 370 million owing to the crew collectiveness, to the precise mechanisms for consistent performance and risk management. We also managed to maintain the company's credit portfolio, providing more than AMD 8.7 billion loan during 2015,” said the Chairman of the Board of Kamurj UCO Ara Aghayan.

He marked the last year unique as Kamurj Credit Organization participated in the creation of Loan Portfolio Securitization Fund I in cooperation with 4 other organizations (Garni Invest, Nor Horizon, Global Credit, and CARD AgroCredit) and with the active support of Capital Investments. Ara Aghamyan reminded that the Fund placed bonds secured by the listed credit assets for the first time in NASDAQ OMX Armenia Stock Exchange in January 2016.

“With the help of this financial instrument, financial inclusion was innovation for the entire financial market. Kamurj highlights the introduction of new financial instruments in the Armenian financial market. The placement was carried out as planned which is very important as it also speaks of confidence in our brand. In addition, the biggest share in the securitized loan portfolio belongs to Kamurj, a total amount of AMD 400 million,” added Ara Aghamyan.

He stressed that by participating in the securitization program, Kamurj UCO aims to receive funding from the capital market in the form of long-term monetary resources, “which will be one of the most important factors of future sustainable development”.