Mon, 29 September
16.1 C
Yerevan
USD: 382.71 RUB: 4.59 EUR: 446.43 GEL: 141.38 GBP: 510.80

Armenian central bank allows Norvik credit organization to shut down

YEREVAN, October 15. / ARKA /. Armenia’s Central Bank said today it allowed Norvik universal credit organization to shut down and terminate operation. The regulator also revoked the organization’s license.

According to a Norvik press release, the reason behind the termination is a strategic change made in the decision of its sole shareholder – Norvik Bank.

“At the moment the company is in the process of shutting down that will last from six months to one year”, the press release said.

JSC Norvik is a universal credit organization with a charter capital of $500 thousand. It was registered and licensed by the Central Bank in July 2006 and began operations at the end of September 2006 with authorized capital of $1.7 million.

Norvik is a subsidiary of the Latvian-Icelandic company Norvik Bank.-0-

spot_img

POPULAR

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img