Artsakhbank’s shareholders to gather on December 17 for extraordinary session

05.12.2016 14:36
Artsakhbank’s shareholders to gather on December 17 for extraordinary session

YEREVAN, December 5. /ARKA/. Artsakhbank’s shareholders will gather on December 17 for an extraordinary session to discuss the final structure of the bank’s capital and to make a decision taking into account the bank’s financial indicators for the two previous years and the central bank’s new requirements to banks’ capital, the press office of Artsakhbank reports.

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.

Artsakhbank’s assets totaled AMD 92.6 billion in late September 2016 after shrinking 2.17% over the third quarter and liabilities AMD 79.3 billion after reducing 4.57%. Its capital grew 15.09% to AMD 13.3 billion. The bank’s profit for the first nine months of this year amounted to AMD 2.7 billion.

Artsakhbank was established on February 12, 1996. The bank is one of the founders of the national payment system ArCa. ($1 – AMD 480.74). --0---


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