Mon, 29 September
27.1 C
Yerevan
USD: 382.75 RUB: 4.63 EUR: 448.54 GEL: 141.34 GBP: 513.96

Araratbank makes its 10th foreign currency coupon bond emission worth $2 million

YEREVAN, November 24. /ARKA/. Araratbank OJSC has made its 10th emission of foreign currency coupon bonds, which total $2 million.

David Harutyunyan, the deputy executive director of Araratbank, said 80,000 nominal non-documentary coupon bonds, which cost $25 each had been issued. Their maturity term is two years and annual rate is 7%. Coupon payment will be made once in one quarter.

“Araratbank is one of active participants of the securities market, and taking into account that demand for previous emissions was high, this time it offers dollar bonds as well,” Harutyunyan said.

In his words, these bonds, just like formerly issued bonds, will be placed through subscription, which will last from November 25 till December 1.

“Once we used to allocate for subscription more than one week – two or three weeks, but market demand is high today and one week is enough for placing bonds,” he added.

There are no restrictions in subscription – both residents and nonresidents may acquire bonds. They should apply to the bank’s head office or any branch for subscription.

“Araratbank is the operator of the Central Depository of Armenia, and this allows the bank to open securities accounts for clients and make bond transactions in a few minutes,” Harutyunyan said.

He said that compared with deposits in foreign currencies, bonds’ seven-percent yield and two-year maturity term are quite attractive conditions.

He also added that liquidity of investments is ensured as well. In his words, the attracted money will be lent to small and mid-scale businesses.

“Some 118 transactions with bonds totaling AMD 704 million were made in 2015,” Harutyunyan said.

Araratbank, the heir of Armsvyaz bank, was established in 1991. European Bank for Reconstruction and Development holds 25% of the bank’s shares, 64.25% of the shares belong to Flash petrol trader, and less than 10% to RURAL IMPULSE FUND II SA SICAV SIF.

On January 30, 2009, the bank joined NASDAQ OMX Armenia Stock Exchange.The bank has 33 branches in Armenia.

According to ARKA News Agency’s data, the bank’s assets totaled AMD 62.9 billion and liabilities AMD 52.7 billion in late December 2010. The bank’s total capital amounted to AMD 10.3 billion and net profit for 2010 about AMD 1.3 billion drams.

The bank’s assets totaled AMD 125.78 billion in late September after shrinking 9% since the beginning of this year and liabilities amounted to AMD 103.4 billion showing a 11.36% decline. Its capital grew 3% to AMD 22.3 billion. ($1- AMD 481.37). —-0—

spot_img

POPULAR

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

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

“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.

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.

LATEST NEWS

spot_imgspot_imgspot_img