Armenian central bank registers increase of Araratbank’s authorized capital

22.11.2016 16:51
Armenian central bank registers increase of Araratbank’s authorized capital

YEREVAN, November 22. /ARKA/. The Central Bank of Armenia has registered the increase of Araratbank’s authorized capital, the regulator’s press office reported on Monday.

According to the press release, the bank added to its authorized capital the AMD 8.5 billion it has received from placement of stocks.

As a result, Araratbank’s authorized capital has exceeded the AMD 30-billion minimum required by the regulator.

The bank’s assets totaled AMD 137.5 billion in the third quarter of this year and liabilities AMD 113.4 billion. Its total capital amounted to AMD 24.1 billion, credit exposure to AMD 66.1 billion and net profit to AMD 732.8 million.

In late 2014, the central bank put a new requirement to commercial banks – their authorized capital must amount to no less than AMD 30 billion instead of the former 5 billion. In compliance with the requirement, commercial banks started building up their capital or merging. The requirement comes into force on January 1, 2017. ($1 – AMD 479.21). --0-----


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