Noragavit new Armbusinessbank subsidiary registered

PanARMENIAN.Net - Noragavit new Armbusinessbank subsidiary was registered in accordance with CBA Chairman Arthur Javadyan's resolution, CBA Press Service reported.



Armbusinessbank was established by the decision of the general meeting of bank founders in accordance with the constitutive agreement of 14 December 1994. According the agreement the bank is the legal successor of the shareholding "Arminvestbank" established in September 1991.

License N40 of the Central Bank of the Republic of Armenia issued on 10 December 1991.

In April 2006 Ukrainian "Ukrprombank" purchased 35% shares of the "Arminvestbank". In mid-April the Christies Management Company, registered on the British Virginia Islands, bought the 30% share of the bank and. In June 2006 Ukrainian "Alfa-Garant" Insurance Company purchased the remaining 35% shares of the "Arminvestbank".

The decision on renaming the bank to "Armbusinessbank" was unanimously accepted at the special meeting of the shareholders of the "Arminvestbank" on August 10.

Bank is a member of SWIFT, Western Union, Anelik, Contact as well as ArCa, MasterCard and Visa International.

As of 30 June 2009: total capital - 10 078 207 thousand dram, the assets - 54 452 912 thousand dram, the liabilities - 44 374 705 thousand dram.