Yerevan /Mediamax/. Official opening of “Armbusinessbank” head office took place in Yerevan today. The ceremony was attended by the Presidents of Armenia and NKR Serzh Sargsian and Bako Sahakyan, Prime Minister of Armenia Tigran Sargsian, members of the government and representatives of the business community.

Mediamax reports that “Armbusinessbank” head office is located in one of ancient buildings of Yerevan, which was put into operation in early 20th century. In different periods, various Armenian ministries and departments were situated in the building, in particular, the Ministries of Finance and Agriculture. Since April, 2007, the building was handed over to “Armbusinessbank” property, and capital construction works at the volume of 1.5bln AMD were realized in it.

According to the Chairman of “Armbusinessbank” Board of Directors Ara Kirakosyan, the building represents a cultural-historic monument, and the main emphasis during the construction works is put on preserving its previous appearance, at the same time creating conveniences for carrying out modern banking activity.

Ara Kirakosyan noted that within the recent 3 years, “Armbusinessbank” managed to improve not only territorial conditions, but also financial indices. Today, the bank has 20 branches in Armenia and NKR, the bank’s assets reached 85bln, having increased 15 times in the course of the recent years. The capital of the bank increased for over 9bln AMD. The bank’s credit portfolio makes 35bln AMD; it is planned that by the end of the year it will grow for 10bln AMD more.

According to the Chairman of Armenian CB Artur Javadyan, “Armbusinessbank” demonstrates high indices as to mortgage and corporate crediting. In particular, even in crisis conditions, the bank secured 25% increase in crediting.

Artur Javadyan stated that “today, as to the growth of the banking system’s crediting portfolio, we occupy leading positions both in the region and in the post-Soviet area: as compared to the beginning of the year, the growth of Armenian banking system’s credit portfolio made 6%”.