Araratbank doesn’t seek to increase participation of EBRD in its shareholding structure

22.12.2016 15:11
Araratbank doesn’t seek to increase participation of EBRD in its shareholding structure

YEREVAN, December 22. /ARKA/. Araratbank doesn’t seek to increase the participation of the European Bank for Reconstruction and Development in its shareholding structure, Ashot Osipayn, Araratbank executive director, said at a news conference on Wednesday.

Earlier, Araratbank announced its merger with the Armenian Development Bank, and the Central Bank of Armenia has already given its preliminary consent. Shareholders of the two banks will gather on December 27 for their joint session, and which a joint bank will be established.

“Now we see no reason for increasing the EBRD share, but if we undertake another merger, such a thing is not ruled out,” Osipyan said.

He said if Araratbank decides so or embarks on global projects, the EBRD is ready to provide support.

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 137.5 billion in the third quarter of this year (4.16% growth) and liabilities AMD 113.4 billion (3.53% growth).

It capital amounted to AMD 24 billion (7.2% growth). ($1 – AMD 480.68). --0---


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