“Kamurj” UCO CJCS has concluded 2015 financial results
16.02.2016

“Kamurj” Credit Organization has concluded 2015 with profit of about 370 million AMD. The company's assets totaled 15.6 billion AMD and the loan portfolio of almost 12 billion AMD following the results of 2015.

“Despite the fact that 2015 was a difficult year for the entire financial system, due to the crew collectiveness, to the precise mechanisms for consistent performance and risk management “Kamurj” UCO CJCS was able to end the year with profits of about 370 million AMD. We also managed to maintain the company's credit portfolio providing more than 8.7 billion AMD loan during 2015.

2015 is also unique that “Kamurj” Credit Organization together with another 4 organizations (“Garni Invest”, “Nor Horizon”, “Global Credit”, “Card AgroCredit”) participated in the creation of “LOAN PORTFOLIO SECURITIZATION FUND I” with the active support of "Capital Investments" company and first placed bonds secured by the listed credit assets in January 2016, "NASDAQ OMX Armenia" Stock Exchange. With the help of this financial instrument financial inclusion was innovation for the entire financial market. "Kamurj" highlights the introduction of new financial instruments in the Armenian financial market.

The placement was carried out as planned which is very important as it also speaks of confidence in our brand. In addition, the biggest share in the securitized loan portfolio belongs to “Kamurj” a total amount of 400 million AMD. By participating in the securitization program “Kamurj” UCO aims to receive funding from the capital market in the form of long-term monetary resources, which I think will be the most important factors of future sustainable development,” noted the Chairman of the Board of “Kamurj” UCO CJSC Ara Aghayan.

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