YEREVAN, May 12. /ARKA/. Armeconombank has signed a $10-million loan agreement with Symbiotics S.А (Switzerland) and Micro, Small & Medium Enterprises Bonds S.A (Luxemburg), the press office of the bank reports.

According to the press release, these financial resources will be targeted for development of micro, small and medium businesses.

Symbiotics, established in 2004, offers high-quality investment solutions for qualified investors. The company carries out its activities in 50 countries.

Armeconombank was registered on August 26, 1991.

European Bank for Reconstruction and Development holds 20% of the bank’s shares, 22.6% belong to Saribek Sukiasyan, 19.5% to Khachatur Sukiasyan and 15.3% to Robert Sukiasyan.

The bank’s assets totaled AMD 108.2 billion and liabilities AMD 88.5 billion in the first quarter of this year. Its total capital amounts to AMD 19.7 billion and authorized capital to AMD 6.33 billion.

The bank’s credit investments totaled AMD 57.2 billion. Its net profit for the 1st Q 2016 amounted to AMD 104.5 million.

Armeconombank has 41 branches – 20 in Yerevan, 20 in provinces and one in Nagorno-Karabakh Republic. ($1- 479.09). ---0----