YEREVAN, September 30. /ARKA/. Araratbank has added AMD 8.5 billion to its authorized capital by issuing and placing stocks, the bank’s press office reported on Thursday.

According to the press release, the bank has completed the placement ahead of time – on September 26. Araratbank embarked on the placement on June 17, 2016 and planned to complete it by September 30.
As a result, the capital has reached AMD 31.7 billion exceeding the AMD 30-billion minimum required by the central bank.

In accordance with the set procedure, after the bank shareholders’ session, the regulations will undergo appropriate changes and will be submitted to the central bank for registration.

Araratbank, the heir of Armsvyaz bank, was established in 1991.

Flash petrol trader holds 64.25% of the bank’s shares, 25% of the shares belong to,the European Bank for Reconstruction and Development and 10% to RURAL IMPULSE FUND II SA SICAV SIF.

Araratbank became a NASDAQ OMX Armenia stock exchange participant on January 30, 2009.
The bank’s assets totaled AMD 135.7 billion in the second half of this year and liabilities AMD 112.5 billion.

It capital amounted to AMD 23.2 billion and credit exposure AMD 69.5 billion.

The bank earned AMD 326.3 million in profit in the 2nd H 2016. ($1 – AMD 474.57). --0---