YEREVAN, October 27. /ARKA/. Armeconombank and the Black Sea Trade and Development Bank (BSTDB) signed today $5-million loan agreement, Armeconombank’s press office reported on Thursday. The loan will be extended for five years.
The Black Sea Trade and Development Bank will lend this money to Armeconombank to enable the latter to support small- and mid-scale businesses.
“This deal shows partners’ deep trust in Armeconombank OJSC,” the press release says. “By this deal the bank again displays its determination to support small and mid-scale businesses in Armenia.”
Armeconombnak started cooperating with the BSTDB in 2008.
According to ARKA News Agency’s data, the BSTDB expended its first loan ($5 million) to Armeconombank on February 12, 2008.
Armeconombanks OJSC was registered on August 26, 1991. European Bank for Reconstruction and Development holds 25% + one share, and 53.4% belong to the Sukiasyans, a family of entrepreneurs.
The bank’s assets totaled AMD 62.1 billion by October 26, 2011. Its total capital exceeded AMD 9.1 billion and credit investments AMD 29.2 billion. Liabilities to clients amounted to AMD 10.2 billion.
The bank has 38 branches in Armenia and Nagorno-Karabakh Republic.
The Black Sea Trade and Development Bank is an international nongovernmental organization connected with the Black Sea Economic Cooperation Organization.
Russia, Greece and Turkey have 16.5% each in the BSTDB’s authorized capital. Romania’s share is 14%. Bulgaria and Ukraine have 13.5% each here. Azerbaijan’s share is 5% and Albania’s 2%. Armenia and Moldova have one percent each, and Georgia 0.5% here. ($1= AMD 378.01). -0-
