"Norvik" Plans To Increase Its Authorized Capital Stock For 700mln A

"NORVIK" PLANS TO INCREASE ITS AUTHORIZED CAPITAL STOCK FOR 700MLN AMD

Mediamax News Agency, Armenia
July 4 2007

Yerevan, July 4 /Mediamax/. The authorized capital stock of "Norvik"
Universal Credit Organization is planned to be increased for 700mln
AMD in the nearest future.

As Mediamax was told in the press service of "Norvik", at present
the authorized capital stock of the organization makes 614mln AMD.

A year ago, on July 4 of 2006, the Board of the Central Bank of
Armenia granted a license to "Norvik" Universal Credit Organization.

The number of customers of "Norvik" made 11 thousands in the first
half of 2007. The assets of the organization make about $26mln, 98%
of which represent credit investments.

The press service of "Norvik" noted that the organization plans to
extend the format of its activities in Armenia, gaining a license
for realizing banking activities.

Mediamax recalls that "Norvik" is the subsidiary structure of the
Latvian-Icelandic ÀÎ LATEKO BANKA.

In October of 2006, the President of ÀÎ LATEKO BANKA Andrey Svirchenkov
stated that "Norvik" plans to annually increase its credit portfolio
for $20mln.

–Boundary_(ID_9s7PfU2oeBrZdFXgF0QfIA)–

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