Yerevan/Mediamax/. Net profit of ARARATBANK made AMD 1.1bln in the first half of 2011, having increased by 78%, as compared to the analogous index of 2010. The assets of the bank made 68.4bln AMD as of June 30, 2011, having increased by 60.18%, as compared to the same period of last year.

Mediamax was informed in the press service of the bank that the liabilities of the bank in the accounting period increased by 72.66% and made AMD 57.2bln.

The credit portfolio of the bank increased by 53.77% in the first half of the year, making AMD 32.2bln. The volume of term deposits in ARARATBANK increased by 64.4% in the accounting period, making AMD 12.9bln.

In order to finance small and medium enterprises, the bank concluded a loan agreement with European Fund for Southeast Europe (EFSE) at the sum of USD 10mln, as well as attracted USD 2mln (AMD 752mln) from its shareholder (European Bank for Reconstruction and Development - EBRD). This year, the bank plans to attract additional USD 20mln from international structures, which will also be directed to SME crediting.--0--