Armenian government privatizes 0.26% shares in Ameriabank

YEREVAN, May 8. /ARKA/. Armenia’s Government has decided to privatize0.26% of its shares in Ameriabank. The RA Government was guided by the RA Law on the State Property Privatization Program 2006-2007.

Commenting on the RA Government’s decision, Ameriabank’s Development Director Tigran Jrbashyan said the RA Finance Ministry started to participate in the bank’s authorized capital on August 30, 1997, with the Government purchasing 1,175 simple shares of former Armeximbank (current Ameriabank) with a nominal value of 40,000 drams per share.

The RA Government currently has a 0.26% share in Ameriabank’s capital.

“The stakeholder could not play a significant role in the bank’s corporate management and share holding,” Jrbashyan was quoted saying.

Ameriabank (former Armimpexbank) was established in July 1992 on the basis of the Armenian branch of the USSR Vnesheconombank. The bank received the Central Bank’s license on 8, 1992. In August 2007, TDA Holdings Limited, affiliate of Russia’s leading banking group Troika Dialog, became the bank’s shareholder. In May 2008, the bank was renamed Ameriabank and on November 3, 2008, the Armenian Stock Exchange announced the bank the market maker of IMEX Group’s shares.

According to ARKA News Agency, Ameriabank’s assets totaled 80.9bln drams on March 31, 2009, with liabilities totaling 60.4bln drams. The bank’s total capital and authorized capital reached 20.5bln drams and 18.2bln drams respectively.

Ameriabank posted 32.8bln drams worth loan investments and 53.8bln drams worth liabilities to clients. During the period under review, the bank’s net profit reached 113.6mln drams.

Ameriabank currently has one branch in Armenia. ($1-372.54 drams) Z. Sh. –0--