{"id":101936,"date":"2016-10-04T13:25:11","date_gmt":"2016-10-04T13:25:11","guid":{"rendered":"https:\/\/armbanks.am\/2016\/10\/04\/245259\/"},"modified":"2024-12-15T13:25:35","modified_gmt":"2024-12-15T13:25:35","slug":"converse-bank-increases-its-equity-capital","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/10\/04\/101936\/","title":{"rendered":"Converse bank increases its equity capital"},"content":{"rendered":"<p><strong>YEREVAN, October 4. \/ARKA\/.<\/strong> The Yerevan-based Converse Bank said today it has increased its authorized capital by 7 billion drams, bringing its total regulatory capital to 28 billion drams.<\/p>\n<p>The capital replenishment to the tune of 6.6 billion drams was made by its major shareholder Advanced Global Investments. The rest-0.4 billion drams- by the second shareholder- the Armenian Apostolic Church.<\/p>\n<p>&#8220;These funds will enable the bank to carry out its long-term programs. The Bank plans to increase the range of services and to significantly expand and diversify its loan portfolio, as well as to introduce modern banking technologies and tools, &#8220;the bank said in a press release.<\/p>\n<p>Along with the gradual replenishment of the capital the bank also is revising its management system by introducing the best international standards of corporate governance.<\/p>\n<p>Converse Bank was registered in 1993. In 2007 some 95% of its shares were acquired by an Argentinean businessman of Armenian origin Eduardo Eurnekian. The remaining 5% belong to the Armenian Apostolic Church.<\/p>\n<p>The bank&#8217;s assets in the second quarter of 2016 declined by 5% from the year before to 150.8 billion drams, its liabilities fell by 6.6% to 128.9 billion drams. However, the bank saw its profit grew by almost 30% in the first half to 978.6 million drams. ($ 1 &#8211; 474.34 drams). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Yerevan-based Converse Bank said today it has increased its authorized capital by 7 billion drams, bringing its total regulatory capital to 28 billion drams<\/p>\n","protected":false},"author":1,"featured_media":157214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12491,14243],"class_list":{"0":"post-101936","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-converse-bank","10":"tag-equity-capital"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/101936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=101936"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/101936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157214"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=101936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=101936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=101936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}