Chrystie management to become sole shareholder of Armbusinessbank soon

19.01.2010 19:30
Chrystie management to become sole shareholder of Armbusinessbank soon

YEREVAN, January 19. /ARKA/. Chrystie Management will become the sole shareholder of Armbusinessbank by late January, Ara Kirakosyan, chairman of Armbusinessbank’s board said in an interview with ARKA News Agency.

Ukrprombank that holds 13.01% of Armbusinesbank’s shares has offered its shares to another shareholder, Chrystie Management.

Kirakosyan said that under the law, the Chrystie Management holding 86.99% enjoys the first-priority right to purchase the remaining shares.

Negotiations over the matter are under way now.

“I think the negotiations will be completed and the deal effected in January,” Kirakosyan said adding that the cost of the deal has not been announced yet.

Armbusinessbank CJSC (Arminvestbank formerly) was registered on December 1991.

Chrystie Management holds 86.99%, and the remaining 13.01% belong to Ukrprombank.

The bank’s assets totaled AMD 96.4 billion and liabilities AMD 80.6 billion by September 30, 2009.

The bank’s total capital amounted to AMD 15.8 billion and authorized capital AMD 13.5 billion.

Its credit investments totaled AMD 55.8 billion and liabilities to clients AMD 49.5 billion by late September 2009.

Armbusinessbank’s net profit for Jan-Sept 2009 amounted to AMD 466.9 million after taxation. ($1 = AMD 377.27). -0

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