Thu, 3 April
8.1 C
Yerevan
USD: 391.16 RUB: 4.65 EUR: 422.18 GEL: 141.47 GBP: 505.97
spot_img

Pan-Armenian Bank transformed into investment fund

YEREVAN, August 14. /ARKA/. The Yerevan-based Pan-Armenian Bank has been transformed into an investment fund, the press service of the Armenian Central Bank reported today.

‘To ensure the efficiency and flexibility of the tasks of the Pan-Armenian Bank, the Central Bank initiated a process of reorganization, as a result of which the bank is transformed into an investment fund,” the regulator said, adding that the process of transformation is logically and legally completed.

The Pan-Armenian Investment Fund already operates; it has a specialized manager, whose powers, as well as those of the shareholder, are exercised by the authorized body of the Armenian government.
Currently, the government and the Central Bank are discussing the legal and technical details of the process, in particular, the transfer of the leadership of the Pan-Armenian Investment Fund and its manager to the responsible body of the Armenian government.

Pan-Armenian Bank was created as a development bank in 2011. Its only shareholder was the Central Bank of Armenia. The authorized capital of the bank was 7.5 billion drams. ($ 1 – 478.52 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

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

LATEST NEWS

spot_imgspot_imgspot_img