YEREVAN, October 4. /ARKA/. The Yerevan-based Converse Bank said today it has increased its authorized capital by 7 billion drams, bringing its total regulatory capital to 28 billion drams.

The capital replenishment to the tune of 6.6 billion drams was made by its major shareholder Advanced Global Investments. The rest-0.4 billion drams- by the second shareholder- the Armenian Apostolic Church.

"These funds will enable the bank to carry out its long-term programs. The Bank plans to increase the range of services and to significantly expand and diversify its loan portfolio, as well as to introduce modern banking technologies and tools, "the bank said in a press release.

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At the end of quarter two, 2016 the equity capital of 32 credit organizations operating in Armenia amounted to 156.9 billion drams, having increased by 16.2% from the beginning of the year

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