Sun, 8 June
24.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Armeconombank’s normative capital to reach AMD 27 billion after its merger with BTA Bank (Armenia)

YEREVAN, August 15. /ARKA/. Armeconombank’s normative capital will reach AMD 27 billion after its merger with BTA Bank (Armenia), the press office of Armeconombank reported after the two banks’ shareholders met on Monday.

Armeconombank’s assets will total AMD 134 billion and liabilities AMD 110 billion after the merger.

On May 6, the Central Bank of Armenia gave its preliminary approval to the two banks’ merger agreement.

According to the press release, the shareholders upheld Armeconombank’s amended regulations and the handover act, which will be submitted to the central bank for registration.

“In three day from the moment of the handover act confirmation by the regulator BTA Bank’s license will become not valid,” Armeconombank says in its press release.

The press office says that the merger will allow Armeconombank to strengthen its position in Armenia’s banking sector and will give it new competitive advantages.

As a result of the merger, the number of branches will reach 46 and ATMs 100. The number of clients will increase as well and the range of services will expand.

Armeconombank was registered in 1991. Its shareholders are EBRD (11.05%), Saribek Sukiasyan (25.98%), Khachatur Sukiasyan (14.38%), Robert Sukiasyan (14.97%) and Eduard Sukiasyan (11.18%).

Armeconombank’s assets totaled AMD 114.1 billion and liabilities AMD 95.6 billion by the end of the second quarter of 2016. Its total capital amounted to AMD 18.5 billion.

BTA Bank was established in 1991. Its shareholders are BTA Bank (Kazakhstan) – 65.2%, ZRL Beteilingungs (Austria) -31.1% and “PSC AMK-Invest” LLC- 3.7%. —0—-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

Armenia’s top 5 banks by asset size for Q3 2023

According to ARKA news agency's quarterly bulletin 'Banks of Armenia,' the top 5 commercial banks of Armenia by asset size as of 30.09.2023 were Ardshinbank, Ameriabank,  Armbusinessbank, Acba Bank and Inecobank

LATEST NEWS

spot_imgspot_imgspot_img