Tweet
FINAL DECISION ON TURNING CONVERSE BANK INTO OJSC TO BE MADE BY AUGUST
YEREVAN, MAY 12, NOYAN TAPAN. The Converse Bank will make a final
decision on turning Converse Bank CJSC (Closed Joint Stock Company)
into an open joint stock company (OJSC) by August 2006. The bank's
director general Artak Hanesian stated this at the May 12 press
conference. According to him, work on introduction of corporate
governance is currently underway at the bank. In this connection, some
changes were made in the bank's regulations, in its council and
executive body. Particularly, former director general of the bank
Smbat Nasibian who owns 15% of shares has become a member of the
council. The remaining stake of Converse Bank belongs to a
non-resident legal entity and a non-resident natural person. It was
noted that Converse Bank is conducting negotiations with the USAID on
the issue of guaranteeing 50% of the bond issue.
YEREVAN, MAY 12, NOYAN TAPAN. The Converse Bank will make a final
decision on turning Converse Bank CJSC (Closed Joint Stock Company)
into an open joint stock company (OJSC) by August 2006. The bank's
director general Artak Hanesian stated this at the May 12 press
conference. According to him, work on introduction of corporate
governance is currently underway at the bank. In this connection, some
changes were made in the bank's regulations, in its council and
executive body. Particularly, former director general of the bank
Smbat Nasibian who owns 15% of shares has become a member of the
council. The remaining stake of Converse Bank belongs to a
non-resident legal entity and a non-resident natural person. It was
noted that Converse Bank is conducting negotiations with the USAID on
the issue of guaranteeing 50% of the bond issue.