Tue, 4 March
1.1 C
Yerevan
USD: 393.69 RUB: 4.40 EUR: 411.09 GEL: 141.36 GBP: 497.94
spot_img

Pan-Armenian bank may be reorganized into Pan-Armenian fund

YEREVAN, May 25. /ARKA/. The Pan-Armenian Bank may be reorganized into Pan-Armenian Fund, head of the Central Bank’s Financial Stability and Development Department Andranik Grigoryan told journalists on Wednesday.

“The Central Bank is considering various options, and the most relevant one is reorganizing it into the Pan-Armenian Fund, which will allow investors to invest more flexibly and promptly,” Grigoryan said.
He noted that the Pan -Armenian Bank implemented a number of successful projects in the processing industry and tourism.

“In the modern financial sphere, the flexibility of financial structures, the speed and availability of favorable conditions for investors are of particular importance,” Grigoryan said.

The head of the Central Bank Artur Javadyan repeatedly stated about the regulator’s intention to withdraw from the capital of all subsidiaries, including the Pan-Armenian Bank. Moreover, he repeatedly stated that the Pan-Armenian Bank was negotiating with serious investors.

The Pan-Armenian Bank is a development bank, owned exclusively by the Central Bank. Its authorized capital is 7.5 billion dams. ($ 1 – 482.89 drams). -0-

spot_img

POPULAR

Net inflow of remittances to Armenia from abroad decreased by 1.7 times in January

The net inflow of cross-border transfers to individuals in Armenia, received from abroad through the banking system of Armenia, amounted to $18.7 million in January 2025, compared to $32.8 million in January 2024, according to the report from the Central Bank of Armenia.

Euro exchange rate plummets by 3.34 points

The average market exchange rate of the U.S. dollar to the Armenian dram on February 28, 2025, amounted to AMD 393.26, having increased by 0.09 points compared to February 27.

Government makes its first attempt to regulate the cryptosphere

At a meeting on Thursday, the Armenian government approved the law "On Cryptoassets," aimed at introducing regulations in the areas of cryptocurrency circulation, exchange, and service provision.

C-QUADRAT AAM Armenia CEO: Investments in Formula VC venture fund will develop Armenia’s technological future

The unprecedented decision of the C-QUADRAT Ampega Asset Management Armenia pension fund to invest $1 million in the Formula VC venture fund in 2024 is very important for Armenia, said Arman Vardanyan, CEO of C-QUADRAT Ampega Asset Management Armenia, summing up the results of a year of cooperation with the Formula VC venture fund.

New Armenian Formula VC II fund invests $30 mln in 40 tech startups with Armenian roots around the world

Armenian Formula VC fund announced the launch of Formula VC II fund on Thursday. 

LATEST NEWS

spot_imgspot_imgspot_img