Converse Bank replenishes its total regulatory capital

28.12.2016 18:46
Converse Bank replenishes its total regulatory capital

YEREVAN, December 28. /ARKA/. Converse Bank's statutory capital has been replenished by AMD 2,429,400,000. Currently, the total regulatory capital of the Bank amounts to AMD 31.9 billion, exceeding the minimum regulatory threshold.

As a result of closed placement of the additionally issued shares, HayPost Trust Management B. V. Company purchased 7,693 common shares and became participant in the Bank's statutory capital with 14.06%.

HayPost Trust Management B. V. Company is a company of the group managed by Eduardo Eurnekian. To maintain 5% proportion of participation by Mother See of Holy Etchmiadzin in the Bank's statutory capital, the Church purchased 405 additionally issued shares.

It should be mentioned that this is the second stage of replenishment of the Bank's total regulatory capital. In September, the Bank's principal majority shareholder - “Advanced Global Investments”, increased the Bank's statutory capital by AMD 6.6 billion, and the Armenian Apostolic Church - by AMD 0.4 billion.

The bank’s assets totaled AMD 173.6 billion in Jan-Sept 2016 showing a 9.3% year-on-year growth and liabilities AMD 143.4 billion (3.8% growth). Its capital amounted to AMD 30.2 billion (46% growth).

Converse Bank earned AMD 1.7 billion in the third quarter of this year.

Converse Bank was registered on December 20, 1993.

In February 2007, Eduardo Eurnekian, Argentine entrepreneur of Armenian descent, bought 95% of the bank’s shares.

The remaining 5% belong to Armenian Apostolic Church. ($1- AMD 483.58). --0---

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