YEREVAN, July 7, /ARKA/. Armenia’s Central Bank said it has registered a new branch of Conversebank-Postbank-19. According to a Central Bank press release, the decision to register it was made June 30 by Central Bank governor Arthur Javadian.
The majority stake of 95% in Converse bank is owned by Argentinean Armenian businessman Eduardo Eurnekian, the remaining 5% is owned by Armenian Apostolic Church.. On March 31 the bank’s total reserves were worth about 80 billion Drams.
Its liabilities stood at 67.4 billion Drams, the total capital was worth 12.6 billion Drams, credit portfolio -46 billion Drams. In the first quarter of 2010 it earned 624.3 million Drams in net profits. Converse bank has 25 branches in 13 towns and some 550 people on its payrolls.($1-368.89 Drams). -0-
