“Norvik” Universal Credit Organization that has already been functioning in Armenia for two years, has always been providing high profitability and now readily speaks about the positive tendencies that it has witnessed. Those tendencies are based first of all on the considerable growth of its total assets.

Executive director of “Norvik” CJSC Tigran Bostanjyan introduced the independent assesment of KPMG Armenia auditors, according to which the net profit of “Norvik” for the year 2008 is $4.8 mln. providing significant annual growth – twice as much as in 2007. As T. Bostanjyan pointed out, this data shows that the global financial and economic crisis did not affect the activities of the organization. According to the expert opinion, “Norvik” continuously holds and occupies the leading position among the credit organizations of Armenia. T. Bostanjyan stressed that such success is first of all built on high professionalism of the staff, as well as on the timely implementation of modern financial services. He added that “Norvik” UCO's success is also conditioned by the launch of "My Norvik" special client self-service system, created at my.norvik.am webpage, in addition to the possibility of loan payments via internet. According to the Ranking of Credit Companies of Armenia prepared by the Agency of Rating Marketing Information, as of Jan 1, 2009, the total capital of Norvik UCO amounted to about $10 mln, assets - about $64 mln, provision of crediting exceeded $59 mln. The annual growth of the total capital amounted to 66,4%, assets - 45,2%, provision of crediting - 37,6%. By the main indices Norvik UCO holds the leading position and ensures stable growth. To recall, Norvik UCO was founded in early July 2006 by the Latvian-Icelandic JSC Norvik Bank, registered as an UCO and licensed by the Central Bank of Armenia in July 2006.