ARARATBANK

ARARATBANK was established as a result of the reorganization of Haykap Bank, operating on the Armenian financial market since 1991. On September 2005 ARARATBANK was reorganized into a closed joint stock company. ARARATBANK has been functioning as an open joint stock company since August 2007. ARARATBANK is a member of the Union of Banks of Armenia; it is a partner of the Ministry of Finance and Economy of Armenia in the field of the internal public debt management. ARARATBANK has been a government agent since 2007 in the field of the public debt management of Armenia on the primary and secondary markets. It provides services to both legal entities and individuals (49 customers in all). The Bank has been a shareholder and a full member of "Armenian Card" company since 2006, issuing ArCa Classic, ArCa Classic-M, ArCa pension payment card, ArCa Junior, ArCa Green Line, as well as AUTOCARD bank payment cards, "Family cards" package and “Gift card”. The Bank is an affiliated member of MasterCard and VISA International payment systems. The Bank issues MasterCard Gold, Business, Standard and Maestro cards, as well as Visa Electron, Visa Classic, Visa Autocard, Visa Gold cards. By the end of 2011 the number of plastic cards issued by ARARATBANKincreased by 37 thousand totaling 86 thousand and 250 cards. ARARATBANK is a participant of the SWIFT international payment systems. ARARATBANK executes fast international remittances through Zolotaya Korona, BTF-Soyuz, Money Gram, Anelik, Contact, Migom, Blizko, BISTRAYA POCHTA, Xpress Money, Avers remittance systems. In 2007 ARARATBANK signed a loan agreement with the European Bank for Reconstruction and Development (EBRD) for an amount of USD 5 million to finance small and medium enterprises. A loan agreement of USD 1 million was concluded to implement an International Trade Facilitation Program jointly with the European Bank for Reconstruction and Development. ARARATBANK has been participating in German KfW "Stable development of mortgage market" program since October 2006. In 2007 ARARATBANK signed a co-financing agreement with the Swiss "Izmirlian Foundation" to provide business loans to enterprises of Armenia. In 2011 ARARATBANK concluded a loan agreement with the European Fund for Southeast Europe (EFSE) for an amount of USD 10 million. On November 2011 a syndicated loan agreement of USD 12 million was concluded to fund small and medium businesses in Armenia. European Bank for Reconstruction and Development, Russian OJSC Promsvyazbank, VDK Spaarbank of Belgium and Lebanese Byblos Bank S.A.L. have their participation in this loan program. On January 20, 2011 Eurasian Development Bank (EDB) and ARARATBANKsigned a loan agreement of USD 4 million to finance micro and small businesses in Armenia. As of December 31, 2011 ARARATBANK loan investments made up 38 billion 380 million drams producing a growth of 52% vs. the figure of the previous year. Global Rating international independent agency granted a credit rating ‘BB’ with stable outlook to ARARATBANK OJSC. As a new financial instrument in Armenia, in 2007 ARARATBANK was the first to issue corporate coupon bonds with the total volume of AMD 250.000 thousand, 12-month maturity and quarterly coupon redemption. The bonds were listed in the highest A-bond category of the Armenian Stock Exchange. In 2008 ARARATBANK issued corporate coupon bonds with the total volume of AMD 400.000 thousand and face value of AMD 10.000 each, with 18 months maturity and quarterly coupon redemption. These bonds were listed in the highest A-bond category of the Armenian Stock Exchange. On December 2009 ARARATBANK issued corporate coupon bonds with total volume of AMD 250.000 thousand and face value of AMD 10.000 each, with 18 months maturity and quarterly coupon redemption. These bonds were listed in the high B-bond category. On December 2011 ARARATBANK issued corporate coupon bonds with total volume of AMD 250.000 thousand and face value of AMD 10.000 each, with 24 months maturity and quarterly coupon redemption. These bonds were listed in the high B-bond category. Volume of operations executed with ARARATBANK bonds in NASDAQ OMX Armenia OJSC (operating as Armenian Stock Exchange OJSC till 27.01.2009) during 2011 amounted to AMD 3,087,000 thousand or 54.41%. Source: www.nasdaqomx.am In 2011 average monthly investments in government bonds by ARARATBANKincreased by AMD 1.4 billion or 42.7% as compared to the average figure of 2010. As of 31.12.2011 portfolio of government bonds amounted to AMD 9.1 billion. Additional issue of shares, for the purpose of replenishment of the statutory capital, was initiated by ARARATBANK in 2008. ARARATBANK OJSC has been the member of NASDAQ OMX Armenia since 30.01.2009. Its status of a stock exchange member enables the Bank to trade in all instruments available at the Stock Exchange, including corporate securities, repo agreements, government bonds and foreign currency. Pursuant to the CBA resolution No 1/723A of July 17, 2008 ARARATBANK has been registered in the insurance agents register and has been issued a Register certificate 25. ARARATBANK service network includes 31 POS terminals and 64 ATMs. ARARATBANK has 42 branches both in Yerevan and regions. ARARATBANK OJSC group used to consist of the Bank and Izmirlian UCO LLC, an affiliated company thereof, which was liquidated and the liquidation balance sheet of the subsidiary company was approved by a relevant resolution of the Board of the Central Bank of Armenia on February 26, 2010. At present ARARATBANK OJSC is not a member of any group. ARARATBANK has 544 employees as of 30.09.2012. Total on-balance sheet assets as of 30.06.2012 stood at AMD 109,401 M, having increased by AMD 7,240 M or 7.1% vs. the figure of the previous quarter. On-balance sheet liabilities as of 30.06.2012 stood at AMD 95,390 M, having increased by AMD 6,383 M or 7.2% vs. the figure of the previous quarter. Total on-balance sheet equity as of 30.06.2012 stood at AMD 14,011 M, having increased by AMD 857 M or 6.5% vs. the figure of the previous quarter. ARARABANK OJSC net profit of the current year as of 30.06.2012 stood at AMD 1,859 M.

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