Yerevan /Mediamax/. Retail Banking Services Department is set up in “Ardshininvestbank”.

Mediamax reports that the Chairman of “Ardshininvestbank” Managing Board Nerses Karamanukyan said this in Yerevan today.

According to him, the new structure of the bank will start functioning from November, 2009, and will aim at crediting small enterprises and rendering retail banking services.

Nerses Karamanukyan noted that by dividing corporate and retail banking, “Ardshininvestbank” intends to stir up crediting of small enterprises and thus diversify its credit portfolio.

At present, the credit portfolio of “Ardshininvestbank” makes about 60bln AMD. According to the assessments of the Managing Board Chairman, at least 15% growth of the crediting portfolio is expected to be registered by the end of the year.

Nerses Karamanukyan noted that at present the level of non-repayment of credit according to international financial reporting standards makes 7% (by Armenian standards – 10%).

Talking about the current indices of the bank, Nerses Karamanukyan noted that growth is registered in “Ardshininvestbank” as to all indices following the results of the third quarter, in particular, the deposit portfolio increased by 25% in the third quarter.

Answering the question on the situation in the currency market, Nerses Karamanukyan expressed opinion that at present there are no currency risks anymore, and the tendency of AMD appreciation will be preserved in the nearest prospect.