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).
