ArmSwissbank intends to build up its normative capital to AMD 34-35 billion in 2016

25.03.2016 15:47
ArmSwissbank intends to build up its normative capital to AMD 34-35 billion in 2016

YEREVAN, March 25. /ARKA/. ArmSwissbank intends to build up its total normative capital to AMD 34-35 billion this year also by replenishing its authorized capital, the press office of the bank reported on Thursday.

According to the press release, ArmSwissbank has taken particular measures, thanks to which its total capital has already reached AMD 30 billion. In 2015, the bank's total capital amounted to AMD 18.3 billion.

To enhance effectiveness, sustainability and stability of banks the Central Bank of Armenia has decided to increase the minimum requirement to commercial banks' total capital to AMD 30 billion from the present AMD 5 billion on January 1, 2017.

ArmSwissBank was registered on November 22, 2004 with 100% Swiss capital, and on February 25, 2005, it got its license from the Central Bank of Armenia. Vardan Sirmakes, a Swiss businessman of Armenian descent and the sole owner of Franck Muller Watchland, holds 80% of the bank’s stocks, and the remaining 20% belong to Belegingsmachepij Jongo” LLC.

The bank provides corporate, investments and individual banking services. In 2007, the bank became a member of NASDAQ OMX Armenia stock exchange.

ArmSwissbank's assets totaled AMD 85.4 billion in 2015 and liabilities AMD 67.1 billion. Its total capital amounted to AMD 18.3 billion, authorized capital AMD 10.1 billion and loan portfolio AMD 37.6 billion. Its net profit for 2015 amounted to AMD 1.95 billion.  ($1 – AMD 480.73). ---0---–


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