{"id":103635,"date":"2016-11-28T10:12:01","date_gmt":"2016-11-28T10:12:01","guid":{"rendered":"https:\/\/armbanks.am\/2016\/11\/28\/245507\/"},"modified":"2024-12-15T13:26:27","modified_gmt":"2024-12-15T13:26:27","slug":"armenian-development-bank-merges-with-araratbank","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/11\/28\/103635\/","title":{"rendered":"Armenian Development Bank merges with Araratbank"},"content":{"rendered":"<p><strong>YEREVAN, November 28. \/ARKA\/.<\/strong> Armenian Development Bank\u2019s shareholders decided Friday at their meeting to merge their bank with Araratbank handing its rights and liabilities over to the latter, according to the report posted at Armenian Development Bank\u2019s official website http:\/\/www.armdb.com\/upload\/ADB_tsanucum.pdf<\/p>\n<p>According to the report, Araratbank will become the full heir of its liabilities from the very moment of the reorganization Armenian Development Bank.<\/p>\n<p>The Armenian Development Bank was established in 1990. Prior to 1996 it operated as Bank of Reconstruction and Development. Its key shareholders are Ruben Hayrapetyan &#8211; 19.7%, Rafik Hayrapetyan \u2013 19.4% and Grigor Termenjian &#8211; 16.6%.<\/p>\n<p>The bank\u2019s assets totaled AMD 68 billion in late September 2016 (6% decline from the beginning of the year) and liabilities AMD 56.1 billion (8.8% decline). Its capital amounted to AMD 11.8 billion (10.8% growth).<\/p>\n<p>Araratbank, the heir of Armsvyaz bank, was established in 1991. European Bank for Reconstruction and Development holds 25% of the bank\u2019s shares, 64.25% of the shares belong to Flash petrol trader and 10% to RURAL IMPULSE FUND II SA SICAV SIF.<\/p>\n<p>On January 30, 2009, the bank joined NASDAQ OMX Armenia Stock Exchange.<\/p>\n<p>According to ARKA News Agency\u2019s data, the bank\u2019s assets totaled AMD 137.5 billion (3.53% growth) and liabilities AMD 113.4 billion in late September 2016. The bank\u2019s capital amounted to AMD 24 billion.<\/p>\n<p>In late 2014, the central bank put a new requirement to commercial banks \u2013 their authorized capital must amount to no less than AMD 30 billion instead of the former 5 billion. In compliance with the requirement, commercial banks started building up their capital or merging. The requirement comes into force on January 1, 2017. ($1 \u2013 AMD 479.4). &#8211;0&#8212;&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenian Development Bank\u2019s shareholders decided Friday at their meeting to merge their bank with Araratbank handing its rights and liabilities over to the latter<\/p>\n","protected":false},"author":1,"featured_media":179092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12162,15837,12699,14192,308],"class_list":{"0":"post-103635","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-araratbank","10":"tag-armenia-2","11":"tag-armenian-development-bank","12":"tag-merge","13":"tag-308"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/103635","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=103635"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/103635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/179092"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=103635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=103635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=103635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}