YEREVAN, September 24. /ARKA/. Armenian Armeconombank will start providing insurance agent services, the bank reports in its website.

The Central Bank of Armenia has added the bank to the list of its insurance mediators and permitted it to be an agent of SIL-Insurance Company.

In addition to banking services, Armeconombank will act as insurance agent in the head office and all its branches.
The mediation activity of the bank will be related to insurance of motor vehicles and other types of insurance provided by SIL-Group.

Accident insurance, cargo insurance, property insurance and insurance of financial losses are among them.

Armeconombank was registered on August 26, 1991.

European Bank for Reconstruction and Development holds 25%+one share and 53.4% of the bank shares belong to Sukiasyans, the bank founders. The remaining 22% are held by other shareholders.

The bank has 34 branches in Armenia and one in Nagorno-Karabakh Republic.

According to ARKA News Agency’s data, Armeconombank’s assets totaled AMD 45.1 billion and liabilities AMD 36.7 billion by June 30, 2010.

The bank’s total capital amounted to AMD 8.4 billion, authorized capital AMD 2.3 billion and credit portfolio AMD 24 billion by late June.

Its liabilities to clients totaled AMD 23.2 billion.
The bank’s net losses for the first half of this year totaled AMD 162.9 million. ($1= AMD 362.76). -0-