YEREVAN, October 17. /ARKA/. VTB Bank (Armenia) will increase its authorized capital by an amount not exceeding 10 billion drams by placing additional ordinary registered shares. A corresponding decision to that end was taken by its parent company Russian VTB Bank.
According to the Information Disclosure Center, VTB Bank will acquire no more than 925,925 ordinary registered shares of cjsc VTB Bank (Armenia) at a price to be determined in accordance with the legislation of the Republic of Armenia and the charter of VTB Bank (Armenia). At the same time, VTB Bank will continue to control 100% of shares in the authorized capital of VTB Bank (Armenia).
“The replenishment of capital is aimed at developing business in 2018 and aims to improve the quality of services and to strengthen the bank’s position in the local market,” VTB Bank (Armenia) said in a news release.
VTB Bank (Armenia) was acquired by VTB Group in 2004. The bank runs 67 branches in Armenia.
According to the quarterly indicators, the total capital of VTB Bank (Armenia), in the first 9 months of 2017 amounted to 29.9 billion drams, assets were worth 227.6 billion drams, and liabilities stood at 197.7 billion drams, ($ 1- 481. 32 drams). -0-
