Armenian central bank allows Norvik credit organization to shut down

16.10.2015 00:39
Armenian central bank allows Norvik credit organization to shut down

YEREVAN, October 15. / ARKA /. Armenia’s Central Bank said today it allowed Norvik universal credit organization to shut down and terminate operation. The regulator also revoked the organization’s license.

According to a Norvik press release, the reason behind the termination is a strategic change made in the decision of its sole shareholder - Norvik Bank.

"At the moment the company is in the process of shutting down that will last from six months to one year", the press release said.

JSC Norvik is a universal credit organization with a charter capital of $500 thousand. It was registered and licensed by the Central Bank in July 2006 and began operations at the end of September 2006 with authorized capital of $1.7 million.

Norvik is a subsidiary of the Latvian-Icelandic company Norvik Bank.-0-


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