Sun, 15 June
21.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

EBRD to extend its participation in the charter capital of Armeconombank for another three years

YEREVAN, October 26. /ARKA/. European Bank of Reconstruction and Development (EBRD) and Armeconombank signed an agreement to extend participation of EBRD in the charter capital of Armeconombank, press-service of the Bank informed ARKA News Agency.

“During the official ceremony of signing the agreement the parties highly appreciated seven-year participation of EBRD in the charter capital of Armeconombank on the basis of which EBRD the first time in Armenia carried out decision to extend the dates of its participation for another three years”, states the press-release.

Mutually beneficial long-term cooperation of the Bank and EBRD which is a strategic shareholder of the Bank with the share of 25% +1 share, assisted in stable and effective development of Armeconombank forming a structure with innovative thinking and operating on the basis of the principles of planning and budgeting, high cooperative culture, principles of risk management and internal control.

“Extension of participation of EBRD in the charter capital of Armeconombank will assist the further development of the bank by expanding its international recognition in the world, productive cooperation of the bank with new reliable partners, innovative banking technologies and the offered range of services targeted at modernization of the country’s economy”, states the press-release.

Armeconombank was registered on August 26, 1991. Over 78% of the shares of the bank belongs to the main shareholders – EBRD (25%+1 share) and the founders of “SIL” concern – the family of entrepreneurs Sukiasians (53.4%).

As of October 24, 2011 the assets of the banks were 61.2 billion drams, total capital – about 9.1 billion drams, capital investments – 29.1 billion drams, liabilities to the clients of the bank – about 10.2 billion drams.

The Bank has 38 branches in Armenia and 1 branch in Nagorno-Karabakh Republic. –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

US dollar exchange rate slightly down, those of euro and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on May 13, 2025, decreased by 0.78 points compared to May 12 and amounted to 388.08 drams.

High profitability of Armenian banks in 2024 was facilitated by growth in net interest income and low level of credit losses – Galstyan

High profitability was recorded in the banking system of Armenia at the end of 2024, which was facilitated by growth in net interest income and low level of credit losses, said Martin Galstyan, Chairman of the Central Bank of the Republic, presenting the financial stability report for 2024.

Euro to Armenian dram exchange rate increased slightly – Central Bank data

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 10, 2025, decreased by 0.29 points compared to June 10 and amounted to 383.25 drams.

LATEST NEWS

spot_imgspot_imgspot_img