Noragavit New Armbusinessbank Subsidiary Registered


22.07.2009 19:16 GMT+04:00

/PanARMENIAN.Net/ Noragavit new Armbusinessbank subsidiary was
registered in accordance with CBA Chairman Arthur Javadyan’s
resolution, CBA Press Service reported.

Armbusinessbank was established by the decision of the general meeting
of bank founders in accordance with the constitutive agreement of 14
December 1994. According the agreement the bank is the legal successor
of the shareholding "Arminvestbank" established in September 1991.

License N40 of the Central Bank of the Republic of Armenia issued on
10 December 1991.

In April 2006 Ukrainian "Ukrprombank" purchased 35% shares of the
"Arminvestbank". In mid-April the Christies Management Company,
registered on the British Virginia Islands, bought the 30% share of
the bank and. In June 2006 Ukrainian "Alfa-Garant" Insurance Company
purchased the remaining 35% shares of the "Arminvestbank".

The decision on renaming the bank to "Armbusinessbank" was
unanimously accepted at the special meeting of the shareholders of the
"Arminvestbank" on August 10.

Bank is a member of SWIFT, Western Union, Anelik, Contact as well as
ArCa, MasterCard and Visa International.

As of 30 June 2009: total capital – 10 078 207 thousand dram, the
assets – 54 452 912 thousand dram, the liabilities – 44 374 705
thousand dram.