Net profit of ARARATBANK in 2010 increased by 44.8%, a compared to the previous year, and made AMD 1bln 279mln.

For the first time in its history, the bank will pay 20% of profit (248.491mln) as dividends, and 70mln is directed at replenishment of the reserve fund. The remaining sum will be at the bank’s disposal. The size of the dividend as compared to the nominal value of one share will make 4.17% (208.5 AMD per share).

Mediamax reports that, speaking at the annual meeting of ARARATBANK shareholders in Yerevan today, General Director of the bank Ashot Osipyan said that in 2010 the bank registered significant growth on all main indices.

The assets of the bank increased by 44.8% in 2010, and made AMD 62.9bln, the liabilities increased by 48.3% and made AMD 52.7bln, the general capital increased by 29.1% (AMD 10.26bln). The number of the bank’s customers in 2010 increased by 41.4% and made 93 523 by the end of the year. Return on Assets and Return on Equity (ROA and ROE) in the bank in 2010 made 19.2% and 2.3% respectively.

Ashot Osipyan informed that the bank plans to hold new issues of shares in Armenia and the Baltic region in the nearest period, “where the Deputy General Director of the bank has already carried out the presentation of ARARATBANK (road show)”. Ashot Osipyan also informed that the opportunity of listing on one of alternative exchange platforms of London is considered. According to him, the bank plans to make the share of free float stocks reach 10% of the capital.

Ashot Osipyan also informed that one of the bank’s goals is to also establish a subsidiary leasing company.