The state services in Armenia will be available through "Araratbank"

ArmInfo. State services in Armenia will be available also through "Araratbank". The corresponding draft decision was approved at a meeting of the Armenian government on June 23.

As the Minister of Justice David Harutyunyan stated, presenting the  document, at the current stage in the list of 6 state services  operators: 5 banks - Ameriabank, Ardshinbank, Converse Bank, Anelik  Bank, Armeconombank, and national postal operator "Haypost".  Operators' activities cover practically all regions of the country  (51 offices). The government plans to cover all cities of the  republic by the end of the year.

By now, according to him, they provide 67 out of 273 kinds of state  services, 42 more are planned to be delegated to them in the near  future. "Another operator comes into play is Araratbank," said  Harutyunyan.

To recall, since November 10, 2016, citizens of Armenia have been  able to apply for government services (certificates and documents) to  banks and post offices. Among the services provided are registration  of commercial enterprises and private entrepreneurs, NGOs, funds,  individual units of legal entities, registration of Armenian  representations of foreign NGOs. Operators also accept applications  for the elimination and reorganization of legal entities. Banks and  mail will be able to issue paper copies of the statutes of legal  entities. It will be possible to register the rights to movable  property. The registration of property rights will become available  from the functions of the cadastre. Operators of state services can  be banks, postal operators, other organizations that must have no  less than 5 years of experience in effective provision of services  and at least 10 service centers in Armenia.

To recall, the international authoritative publication Global Finance  recognizes ARARATBANK as the best bank in Armenia for trade financing  for the second consecutive year. As the press service of the Bank  told ArmInfo, in this way ARARATBANK is recognized as the best  international trade organization by the third international  authoritative organization. ARARATBANK was awarded this taking into  account such criteria as the volume of operations performed, the  geographical scope of transactions, high quality of customer service,  competitive pricing, and innovative technologies introduced in the  bank.

According to the Express-Ranking of Armenian Banks, prepared by IC  ArmInfo, ARARATBANK increased its credit portfolio for 2016 by 58.7%  to 104.9 billion AMD or $ 216.7 million (48.7% of the bank's assets).  As a result, the assets of ARARATBANK grew by 63.3% in the reporting  year to 215.6 billion AMD or $ 445.5 million. The total capital of  the bank increased by 47.6% in 2010 to 33.2 billion AMD due to the  replenishment of the authorized capital by 2 times to 16.8 billion  AMD (through the issue of shares - in November 2016 and the merger  with the Armenian Development Bank - in December of the same year).  The total liabilities of the bank grew by 66.4% in 2016, to 182.4  billion AMD or $ 376.9 million, in the structure of which 58.7%  accounted for term deposits and demand deposits (with an annual  growth of almost two times the absolute value) and 30,2% - on funds  raised from international financial organizations (with an annual  growth of 14.6%). ARARATBANK has been operating since November 2005.  In the structure of the bank's share capital, at the end of the  November issue of shares, 72.73% belongs to the largest oil trader of  the country - Flash, 18.14% - EBRD, 8.58% - Rural Impulse Fund II,  and the rest 0.55% - distributed among 82 minority shareholders. The  branch network of ARARATBANK has 54 subdivisions (4 positions): 27 in  Yerevan, 26 in the regions of Armenia and 1 in Artsakh, and taking  into account the branches of the Armenian Development Bank, their  total number will reach 63.