Ardshininvestbank announces first issue of nondocumentary bonds

YEREVAN, December 22. /ARKA/. Ardshininvestbank has announced its first 1.5bln AMD issue of nondocumentary bonds. The bank’s press service reports that 154 investors (121 individuals, 33 legal entities, with 152 of them being residents and two nonresidents) have made investments in the bonds.

Quarterly coupon payments (250 AMD for each coupon) are to be effected during next year, with the first coupon payment scheduled for March 5, 2009, second for June 5, third for September 5 and fourth for December 5, which day is also the maturity date. During the circulation, the bank may redeem bonds at a pre-fixed price.

“Considering the successful first issue of the bonds, Ardshininvestbank plans a second issue during 2009,” the report says.

The Central Bank of Armenia (CBA) issued Banking License #83 to the Ardshininvestbank CJSC on February 27, 2003. The Ardshininvestbank principal stockholders are the Region investment corporation (86.82%) and the International Finance Corporation (IFC), which purchased 10% late last year. The bank is an affiliate member of the MasterCard/Euriopay system and a share holder of the Armenian Card CJSC.

As of December 30, 2008, Ardshininvestbank’s capital totaled 22.7bln AMD, assets 119.2bln AMD, liabilities 94.5bln AMD, credit assets 79.8bln AMD and retained earnings 4.1bln AMD.

The bank has 55 branches, with six of them in the Nagorno-Karabakh Republic (NKR). The bank also has a representative office in Paris, France.

According to the information at ARKA’s disposal, the bank is among the leaders as to key performance indicators. From January through September 2008, the bank had the second largest assets and liabilities, being leader in crediting, amount of deposits attracted from clients and net profits. The bank also had the third largest total capital. –0--