YEREVAN, June 5. / ARKA /. BTA Bank in Armenia will replenish its capital and change the owner, Samvel Chzmachyan, the chairman of the Union of Banks of Armenia, revealed today.

He refused to divulge the details of the upcoming deal citing banking secrecy, saying only that the replenishment of the capital is to comply with the latest requirements of the Basel Committee.

According to its balance sheet data, as of April 1 BTA Bank’s capital was worth 5.7 billion drams ($13.8 million).

BTA Bank was founded in 1991. Its current largest shareholders are BTA Bank (Kazakhstan) - 48.9%, ZRL Beteilingungs (Austria) -31.1 % and Mobilex Energy Limited (Kazakhstan ) - 16.3 %

The bank's assets as of April 1, 2014 stood at 13.05 billion drams, its liabilities were worth 7.3 billion drams, and the outstanding lending stood at 6.2 billion drams. In the first quarter the bank sustained 14.8 million drams in losses, up 76 percent from the 1st quarter of 2013. ($ 1 - 413.71 drams). -0