PRESENTATION OF BTA INVESTBANK TO BE HELD IN YEREVAN ON AUG 22
ARKA News Agency
Aug 18 2005
YEREVAN, August 18. /ARKA/. A presentation of the BTA Investbank is to
be held in Yerevan on August 22, 2005. BTA Investbank Board Chairman
Rasul Kosanov said that the bank itends to make its contribution to
the development of Armenia’s financial sector, introduce innovation
and banking products, promote Armenian companies and Armenia in
the international investment community, encouraging the inflow of
foreign investments.
In May 2005, one of the largest banks of Kazakhstan, “TuranAlem”
acquired 48.9% of shares of the authorized capital of the Armenian
“International Investment Bank” CJSC, which was later renamed BTA
Investbank. The other shareholders of the bank are the Austrian ZRL
company (31.1%), and the Kazakh-Armenian MOBILEX company (20%).
According to interim financial report, by June 30, 2005, the assets
of the BTA Investbank had amounted to AMD 1,118.9mln, total capital
AMD 878.8mln, and authorized capital AMD 1,105mln. The bank’s credit
investments had totaled AMD 181.7mln. P.T. -0–