Sat, 26 July
32.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armeconombank signs $10-million loan agreement with two European financial organizations

YEREVAN, May 12. /ARKA/. Armeconombank has signed a $10-million loan agreement with Symbiotics S.А (Switzerland) and Micro, Small & Medium Enterprises Bonds S.A (Luxemburg), the press office of the bank reports.

According to the press release, these financial resources will be targeted for development of micro, small and medium businesses.

Symbiotics, established in 2004, offers high-quality investment solutions for qualified investors. The company carries out its activities in 50 countries.

Armeconombank was registered on August 26, 1991.

European Bank for Reconstruction and Development holds 20% of the bank’s shares, 22.6% belong to Saribek Sukiasyan, 19.5% to Khachatur Sukiasyan and 15.3% to Robert Sukiasyan.

The bank’s assets totaled AMD 108.2 billion and liabilities AMD 88.5 billion in the first quarter of this year. Its total capital amounts to AMD 19.7 billion and authorized capital to AMD 6.33 billion.

The bank’s credit investments totaled AMD 57.2 billion. Its net profit for the 1st Q 2016 amounted to AMD 104.5 million.

Armeconombank has 41 branches – 20 in Yerevan, 20 in provinces and one in Nagorno-Karabakh Republic. ($1- 479.09). —0—-

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

In Armenia, bad loans worth over $1 million have been written off under the state support program – Ministry of Social Affairs

14,757 applications for writing off bad loans have been received in Armenia within the framework of the relevant state support program, which started on February 1, 2025.

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.

LATEST NEWS

spot_imgspot_imgspot_img