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AnelikBank CJSC on Wednesday announced about its rebranding and presented its new brand. From now on this bank will be called IDBank.

At the press conference on this event, chairman Vartan Dilanyan of the board of this bank noted that the decision to conduct a full rebranding was adopted in connection with the coming of the new major shareholder of the Bank (PHOTOS).

He recalled that, until then, the Bank repeatedly stated that it will launch a reform and modernization program that shall relate to the work with client base, internal transformation of the Bank, and enhancement of its technology.

“With the support of our shareholders, we have done a great, hard work with the Bank’s staff,” Dilanyan noted. “We have engaged the best international experts so that we get enough amount of knowledge, competence to make the right decisions. Now, we are ready to move forward with our reformed strategy.”

In his words, the new visual image of the Bank and its renaming symbolize the new philosophy of the work, new vision and value. The Bank staff, shareholders, and management have been given a difficult task: to successfully input the developed programs and strategies into the work.

“Our track-record, the stable base for enhanced capital in Armenia, the knowledgeable team and the knowledge of the Bank give us confidence that we will overcome that problem,” noted the chairman of the Bank board. “We wish to become a technology, innovation bank where the attention toward the [Bank’s] client and his personal needs will be combined with high technology. Together with the matters of service quality improvement, we are developing the deep digitalization program of our business—from the viewpoint of client work, our internal processes.”

Also, he assured that in 2018, the now IDBank will introduce interesting novelties that will attract their widespread client.

“Being one of the first registered banks in Armenia and having a long years of track-record of work, we have succeeded in attracting a large number of clients and gain confidence, which is obligating,” the Bank’s Financial Director, Ruben Melikyan, noted for his part. “Creating of the new brand—IDBank—and its strategy are aimed at strengthening and expanding that confidence. As a result of complicated but necessary and positive changes, the Bank has recorded new financial and non-financial achievements during this period.”

In his words, the Bank has recorded high rates of profit and profitability growth over the past four years.  In particular, the Bank’s net profit increased by 70% in 2017, as compared to the previous year’s indicator. In the first quarter of 2018, the Bank’s net profit increased by AMD 1.5 billion. “These figures are unprecedented for the Bank,” noted the financial director.

In the first quarter, the Bank secured a loan portfolio growth by 15%, simultaneously maintaining high indicators of capital adequacy and liquidity, which attest to the stability of the Bank.

“Putting the stress on individual approach, the IDBank clients can already make use of the Private Banking service,” Ruben Melikyan noted. “This means that the Bank clients are served in a separate hall, they consult with professional individual managers, and they may make use of the personal product specially designed for them. But the most important changes and programs are still ahead. Our priority objective is to provide modern innovation products, to secure high quality personal service to the market.”

Armenak Darbinyan, a board member of the Central Bank of Armenia, in turn, noted that owing to its long years of activity, AnelikBank has become a universal financial institution that is formed with a stable client base, whose guarantee is the wide range of financial services being provided.

“AnelikBank has always been active in the credit market of Armenia, wherewith it has contributed to the development of the real sector of Armenia’s economy,” he noted. “As a result of reforms through changes in the shareholder makeup of the Bank, the Bank has considerably improved its quantitative and qualitative indicators, alike. The Bank’s activeness and prospect for its development enable to expect that the successes of the now IDBank will be continuous, and the Bank will contribute to the deepening financial mediation in economy.”

Tatevik Hovhannisyan, a representative of the Marketing and Public Relations Division, noted that the new name and brand of the Bank were not selected by chance. The foundation of the brand is the image of a three triangular slanted fingerprints, which symbolize the individuality of a person and stress the Bank’s individual approach to each and every client. The three colors—white, gray, and orange—contained in the label symbolize the openness and transparency of the system, individuality and innovations, progress, youth and new approaches, respectively.

AnelikBank operates in Armenia’s market since October 1990. With the coming of the Bank’s new shareholder—in the person of Fistoco Ltd. (Vartan Dilanyan) of Cyprus—with a 59.68% share, the share of the former 100% shareholder, the CreditBank S.A.L. (Tarek J. Khalifé) of Lebanon, has dropped to 40.32%. The branch network of the Bank comprises 14 branches, 8 of which in the capital city, and 6—in the provinces of Armenia.

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