YEREVAN, April 18. /ARKA/. The Central Bank of Armenia has qualified Armeconombank OJSC and SIL Insurance CJSC as a financial group – SIL Multifunctional Financial Group.

The bank reports on its website that the regulator has also empowered Armeconombank to run SIL Multifunctional Financial Group as responsible entity.

Armeconombank was registered on August 26, 1991. It was the first bank in Armenia to be reorganized into a joint stock company. In February 2009, the bank became a member of NASDAQ OMX Armenia stock exchange and in July 2015 a member of the central Depositary’s securities system.

The bank shareholders are Saribek Sukiasyan – 31.32%, Khacahtur Sukiasyan 13.77%, Robert
Sukiasyan 14.15%, Eduard Sukiasyan – 10.64% and the European Bank for Reconstruction and Development – 5.04%.

SIL Insurance, registered on March 2, 2000 had been established by the Sukiasyans as well.
On March 25, 2008, the company was re-registered and re-licensed. --0----