Mon, 30 June
21.1 C
Yerevan
USD: 384.32 RUB: 4.89 EUR: 450.23 GEL: 141.11 GBP: 527.56

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

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

ADB forecasts inflation in Armenia at 3% in 2025 and 2.8% in 2026

The Asian Development Bank (ADB) forecasts inflation in Armenia at 3% in 2025, said Don Lambert, Director of the Bank’s Resident Mission in Armenia.

Byblos Bank Armenia becomes CaseKey strategic partner

Byblos Bank Armenia has become the strategic partner of the CaseKey Business Case Competition, emphasizing the importance of continuous investment in promising educational programs.

EBRD’s investments in Armenia in 2024 reached record 400 million euros – Head of Finance Ministry

he European Bank for Reconstruction and Development's (EBRD) investments in Armenia in 2024 hit the record 400 million euros, Armenian Finance Minister Vahe Hovhannisyan said at a meeting with EBRD President Odile Renaud-Basso in London.

Russian president gives Yerevan-based Balchug Capital permission to buy Gazprom, Inter RAO, and LUKOIL shares from Goldman Sachs

Goldman Sachs International will be able to sell minority stakes in a number of Russian blue chips to Balchug Capital CJSC, the same company that received permission from Russian authorities to buy the local banking unit of the American financial group.

LATEST NEWS

spot_imgspot_imgspot_img