{"id":84188,"date":"2015-02-04T13:38:55","date_gmt":"2015-02-04T13:38:55","guid":{"rendered":"https:\/\/armbanks.am\/2015\/02\/04\/242311\/"},"modified":"2024-12-15T13:16:09","modified_gmt":"2024-12-15T13:16:09","slug":"conversebank-assets-grow-225-to-amd-150-billion-in-2014","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/02\/04\/84188\/","title":{"rendered":"Converse Bank to meet Central Bank\u2019s requirement to raise capital to 30 billion drams"},"content":{"rendered":"<p><strong>YEREVAN, February 4. \/ ARKA \/.<\/strong> Converse Bank\u2019s liquidity is quite high and it will meet the requirement of the Central Bank to increase the total capital by 2017, the bank\u2019s CEO Tigran Davtyan said today.<\/p>\n<p>Speaking at a news conference he said Converse Bank is among top ten local banks in terms of capital size and will have no recapitalization-related problem.<\/p>\n<p>In January Armenia\u2019s Central Bank decided to raise the minimum amount of commercial banks\u2019 total capital to 30 billion drams from the current 5 billion drams from January 1, 2017. It said the measure is aimed at encouraging mergers and consolidation of banks, which is expected to create a sound competitive environment and make banking services more available.<\/p>\n<p>According to Davtyan, Converse Bank is considering several options- a merger, a purchase of another bank or increasing capital by the major shareholder.<\/p>\n<p>&#8220;In any case, the required amount is not too large for our bank and by 2017, we will raise the capital to the required size,&#8221; he said.<\/p>\n<p>Converse Bank registered in 1993 is owned by an Argentinean businessman of Armenian origin Eduardo Eurnekian (95 percent) and the Armenian Apostolic Church (5 percent).<\/p>\n<p>The bank&#8217;s assets at the end of 2014 stood at about 150 billion drams; its liabilities &#8211; at 126 billion drams, its capital \u2013 at 23 billion drams. The bank earned 2.4 billion drams in net profit last year, the fivefold of its profit in 2013. $ 1 &#8211; 476.64 drams). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Converse Bank\u2019s liquidity is quite high and it will meet the requirement of the Central Bank to increase the total capital by 2017, the bank\u2019s CEO Tigran Davtyan said today<\/p>\n","protected":false},"author":1,"featured_media":157156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12334,15837,12387],"class_list":{"0":"post-84188","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-amd","10":"tag-armenia-2","11":"tag-conversebank"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/84188","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=84188"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/84188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157156"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=84188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=84188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=84188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}