News

2023, despite a number of challenges, became another successful year for Armeconombank, characterized by the growth of key indicators, introduction of new services and a number of other achievements.

By implementing the strategic tasks, an increase in financial indicators was recorded in all the following directions.

• The bank’s assets increased by 13,6% and amounted to AMD 464.9bn
• Liabilities increased by 12,3% and amounted to AMD 404,4bn
• Loans to customers increased by 12,3% and amounted to AMD 291,4bn
• Liabilities to customers increased by 17,8% and amounted to AMD 183,9bn
• Total capital increased by 23,1% and amounted to AMD 60,5bn
• Annual net profit amounted to about AMD 5bn

Along with such increase in indicators, the bank continues to stand out for high quality of its loan portfolio. Problem loans amounted to only 0.57% of the portfolio at the end of the year.

At the Annual Meeting held on 21 June, the bank announced the payment of dividends to its shareholders for the 10th year in a row.

Valuing the role of corporate social responsibility by the bank is noteworthy. In 2023, about AMD 210 mn were allocated to the implementation of social and charitable programs. Recently, it was also announced to donate AMD 100m aid to the residents affected by the severe consequences of the flood that occurred in Lori and Tavush provinces.

The details are presented in the video.