Armenian CB recognizes Credit Service Bank liquidated
25.10.2007,
22:38
At its 4th meeting presided over by CBA Vice-Chairman Artur Javadyan, the Board of the Central Bank of Armenia (CBA) made a decision on the liquidation of the commercial bank Credit Yerevan Ltd.
YEREVAN, October 25. /ARKA/. At its 4th meeting presided over by CBA Vice-Chairman Artur Javadyan, the Board of the Central Bank of Armenia (CBA) made a decision on the liquidation of the commercial bank Credit Yerevan Ltd.
The CBA press service reports that on December 25, 2001, the CBA Board made a decision on temporary administration at the Credit Service bank. On January 9, 2002, the CBA approved a financial recovery program for the bank.
On March 13, 2003, the CBA Board made a decision on the termination of activities of the temporary administration of the Credit Service bank and initiation of a bankruptcy procedure, on the basis of the temporary administration’s report on the impossibility of the bank’s financial recovery.
The Credit Yerevan bank was incorporated on June 8, 1995. –0--
The CBA press service reports that on December 25, 2001, the CBA Board made a decision on temporary administration at the Credit Service bank. On January 9, 2002, the CBA approved a financial recovery program for the bank.
On March 13, 2003, the CBA Board made a decision on the termination of activities of the temporary administration of the Credit Service bank and initiation of a bankruptcy procedure, on the basis of the temporary administration’s report on the impossibility of the bank’s financial recovery.
The Credit Yerevan bank was incorporated on June 8, 1995. –0--
