The Nor Nork branch of Anelik Bank will operate at a new address

ArmInfo. On July 10 in Yerevan, in the administrative district of Nor Nork, at the address Gay 17/1, a solemn ceremony of opening the branch of Anelik Bank Nor Nork was held, which previously operated in the same administrative district  at the address: Moldavian 27a.

"The current location of the Nor Nork branch will help attract more  customers. Previously, it operated in a hard location, which was the  main reason for moving the branch to a crowded point," said Chairman  of the Board of Anelik Bank Nerses Karamanukyan, explaining that the  total number of subdivisions in the Nor Nork branch is 13, of which 7  are metropolitan.

Answering the question of ArmInfo, he stressed that most likely this  year the Bank does not envisage the opening of new subdivisions, but  the existing branches of Anelik Bank at Baghramyan Ave. in Yerevan  and the regional branch in Gyumri will be reconstructed.

For his part, member of the Board of the Central Bank of Armenia Oleg  Aghasyan noted: "During the 27 years of its activity, Anelik Bank  provided quality services, thanks to which it managed to expand the  client base. Today the Bank plays a special role in Armenia's banking  system, in which the share of Anelik is 14%." A. Aghasyan stressed  that the Bank is very active in the card business market and in  providing retail services.

Speaking about retail business, in a conversation with ArmInfo  correspondent N. Karamanukyan noted that next year the Bank will  actively develop the segment of retail services, in particular, by  launching new co-branding products. In this regard, he stressed that  the Bank intends to increase its retail portfolio by 30% annually.

The head of Nor Nork administrative district Armen Ulikhanyan, the  partners of Anelik Bank, visitors and other high-ranking guests were  also present at the opening ceremony. The branch of Nor Nork will  operate from Monday to Friday from 09:15 to 16:45.

According to the Financial Rating of Armenian Banks prepared by IA  ArmInfo, the volume of credit investments of the Bank Anelik  increased by 3.6 times in 2016 - up to 218.8 billion AMD, of which  retail crediting accounted for about 13% or 27.7 billion AMD. Such  growth of the loan portfolio allowed the bank to increase assets in  the reporting year by 3 times - up to 283.5 million AMD. As a result,  the share of the loan portfolio in the structure of the bank's assets  increased from 68% to 77%. Net profit increased by 5.3 times to  Anelik Bank for 1.2 billion AMD in 2016. (The calculated exchange  rate of the AMD as of 31.12.2016 was 483.94 AMD/USD1).

To remind, Anelik Bank has been operating on the market since October  1996. After the additional share issue in November 2016, the  membership of the Bank's shareholders changed - the entry of the  Cypriot company FISTOCO LTD with a stake of 59.68% reduced the share  of the former shareholder represented by the Lebanese Bank CreditBank  S.A.L from 100% to 40.32%. Indirect majority shareholders are  physical persons: Tarek J. Khalefe (CreditBank S.A.L) and Vartan  Dilanyan (FISTOCO LTD).