Armswissbank becomes member of Armenian Stock Exchange
20.09.2007,
04:51
Armswissbank Closed Joint Stock Company became a member of Armenian Stock Exchange (Armex), Director of the Department for Development and Organization of the bank Konstantin Saroyan told ARKA news agency.
YEREVAN, September 19. /ARKA/. Armswissbank Closed Joint Stock Company became a member of Armenian Stock Exchange (Armex), Director of the Department for Development and Organization of the bank Konstantin Saroyan told ARKA news agency. According to him, this decision follows the bank’s strategy to become one of the leading players on the Armenian securities market.
Armswissbank is the first bank licensed by the Central Bank of Armenia (CBA) this year to carry out brokerage and depository activities. The membership in Armex will extend opportunities of the bank of the stock market and allow the bank providing wider range of services to its clients. Particularly, in being directly involved the stock trade of securities, the bank will be able to offer services to its clients under more favorable conditions.
Armswissbank expects to actively participate in elaboration and development of internal regulations of Armex.
Armswissbank is one of the most active participants of the Armenian government bonds market.
The purchase of bonds issued by Shen-Concern Closed Joint Stock Company has been the first transaction on the market of corporate bonds that were used in effecting the first repo transaction on Armenia’s financial market. In 2007, the total volume of repo operations on corporate bonds effected by the bank was 140mln Drams – a 350% of the overall volume of repo transactions on securities of similar sort.
Armswissbank cooperates with a number of leading enterprises of Armenia. Particularly, the bank has been the issuer and the underwriter on corporate bonds of VALLETTA Co. Ltd. After the placement of the bonds, the volume of off-exchange transactions effected by the bank on the company’s bonds totaled 73mln Drams or more than 20% of the overall volume of the bonds.
Armswissbank intends to be the principle underwriter on the corporate bonds of “Armenian Copper Program” company. The volume of the company’s bonds totaled 500mln Drams, 80% of which is to be placed between the members of the syndicate of underwriters, with the remaining 20% (100mln Drams) to be placed through open subscription.
Armswissbank Closed Joint Stock Company was registered on November 22 2004 having 100% Swiss capital. On February 25 2005 the bank received a license for banking activities. As of June 30 the bank’s assets totaled 9.4bln Drams and total capital 3.8bln. In January-June net profit totaled 106.1mln Drams and the balance accrued profit were 106.8mln Drams as of June 30. The authorized capital totals 3.75bln Drams.
The Armenian Stock Exchange (Aremx) is a self-regulating organization uniting 21 brokerage (dealer) companies. Transaction on corporate stock has been effected on the exchange since July 6 2001.
The OMX Scandinavian exchange operator is expected to purchase the Armex and the Central Depository in October 2007. As of September 19 2007 33 securities were registered and underwent listing on the Armenian Stock Exchange. The capitalization of Armex totaled about 25.4bln Drams. ($1 = 340.54 Drams). N.V. –0—
Armswissbank is the first bank licensed by the Central Bank of Armenia (CBA) this year to carry out brokerage and depository activities. The membership in Armex will extend opportunities of the bank of the stock market and allow the bank providing wider range of services to its clients. Particularly, in being directly involved the stock trade of securities, the bank will be able to offer services to its clients under more favorable conditions.
Armswissbank expects to actively participate in elaboration and development of internal regulations of Armex.
Armswissbank is one of the most active participants of the Armenian government bonds market.
The purchase of bonds issued by Shen-Concern Closed Joint Stock Company has been the first transaction on the market of corporate bonds that were used in effecting the first repo transaction on Armenia’s financial market. In 2007, the total volume of repo operations on corporate bonds effected by the bank was 140mln Drams – a 350% of the overall volume of repo transactions on securities of similar sort.
Armswissbank cooperates with a number of leading enterprises of Armenia. Particularly, the bank has been the issuer and the underwriter on corporate bonds of VALLETTA Co. Ltd. After the placement of the bonds, the volume of off-exchange transactions effected by the bank on the company’s bonds totaled 73mln Drams or more than 20% of the overall volume of the bonds.
Armswissbank intends to be the principle underwriter on the corporate bonds of “Armenian Copper Program” company. The volume of the company’s bonds totaled 500mln Drams, 80% of which is to be placed between the members of the syndicate of underwriters, with the remaining 20% (100mln Drams) to be placed through open subscription.
Armswissbank Closed Joint Stock Company was registered on November 22 2004 having 100% Swiss capital. On February 25 2005 the bank received a license for banking activities. As of June 30 the bank’s assets totaled 9.4bln Drams and total capital 3.8bln. In January-June net profit totaled 106.1mln Drams and the balance accrued profit were 106.8mln Drams as of June 30. The authorized capital totals 3.75bln Drams.
The Armenian Stock Exchange (Aremx) is a self-regulating organization uniting 21 brokerage (dealer) companies. Transaction on corporate stock has been effected on the exchange since July 6 2001.
The OMX Scandinavian exchange operator is expected to purchase the Armex and the Central Depository in October 2007. As of September 19 2007 33 securities were registered and underwent listing on the Armenian Stock Exchange. The capitalization of Armex totaled about 25.4bln Drams. ($1 = 340.54 Drams). N.V. –0—
