On the 9-th of July Ardshinbank CJSC has been awarded the Best Bank in Armenia for the Year 2015 by “Euromoney” magazine in London.
On 17th June, 2015 Fitch rating agency assigned «Ardshinbank» CJSC a B+ Long Term Issuer Dafault Rating with Negative Outlook.
ARDSHINBANK published its financial results for the first quarter of 2015, continuing to demonstrate a sustainable growth.
Ardshinbank and the OPEC Fund for International Development (OFID) signed a US$10 million loan agreement on March 31, 2015 in Vienna. The agreement was signed by Mr. Suleiman Jasir Al-Herbish, the Director-General of the OPEC Fund for International Development and Mr. Mher Grigoryan, the Chairman of the Management Board of Ardshinbank.
Mr Jan van Bilsen is IFC’s newly appointed Regional Manager for the South Caucasus.
Amulsar requires a very large investment. Construction costs are estimated at US$426 million. There are also other costs and contingencies to fund, which will likely add an additional 10-20%.
By results of the year, the Bank has strengthened its position among the top three of the banking system by all key indicators. Net profit income for the year 2014 has been AMD 4,2bln.
The company will also pay approximately US$ 1m a year to local government budget in the form of land payments. However, the impact of the project on the economy will be significant also in terms of employment in the region, and the multiplier effect an operation like Amulsar will have on local businesses.
Interview with the Executive Vice President of Lydian International Didier Fohlen.
The next major station on the way is the summit in Riga in May 2015. Hopefully, at that point we will be able to confirm that further progress has been made and take new steps to develop our relation. Armenia has a committed partner in the EU – we are here for the long term.