Tue, 29 April
13.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Armeconombank raises its regulatory capital by 1.2 billion drams

YEREVAN, March 23. / ARKA /. Armenian Armeconombank said today it has channeled part of its long-term subordinated loan into replenishing its regulatory capital by 1.2 billion drams. The main shareholder of Armeconombank, Eduard Sukiasyan, replenished the regulatory capital on March 20.

The bank said it will use the replenished capital for lending to local companies and individual borrowers.

Armeconombank was registered in 1991. Its shareholders are EBRD -20%, Saribek Sukiasyan – 22.6%, Khachatur Sukiasyan – 19.5% and Robert Sukiasyan – 15.3%.

The bank’s assets at the end of 2014 stood at 91.9 billion drams, a 24% rise from the beginning of the year. Its liabilities surged by 28% to 80.8 billion drams; the capital increased by 0.7% to 11.1 billion drams and its net profits grew by 23.6% to 886 million drams. ($ 1 – 478.36 drams).

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

LATEST NEWS

spot_imgspot_imgspot_img