Tweet
ITB's ASSETS MAKE 5.1 BILLION DRAMS AT END OF FIRST HALF OF 2006
Noyan Tapan
Oct 30 2006
YEREVAN, OCTOBER 30, NOYAN TAPAN. As of June 30, 2006, the assets
of the International Trade Bank (ITB) made 5.1 bln drams (about 11.5
mln USD), its credit portfolio - 1.6 bln drams, and overall capital
- 2.98 bln drams. NT was informed from the bank that ITB has four
branches in Armenia. To recap, ITB was founded in 1992 on the basis
of Menatep-Yerevan Bank CJSC - the Yerevan branch of Menatep Bank
(Russia). In April 2000, several foreign companies acquired ITB's
shares and later united in Makarious (MG) Holdings GMBH, and the bank
was renamed "International Trade Bank" (ITB). Since 2005, Makarious
(MG) Holdings GMBH has owned 99.91% of the bank's shares. Makarious
unites about 60 companies registered in Austria, Great Britain,
Ireland, Switzerland, Cyprus and several CIS countries. The group
is composed of banks, leasing, investment and consulting companies
that implement big investment programs in construction, mining,
wood working, textile industry, precise technologies and trade.
In Armenia, the economic interests of Makarious Group are not limited
to the banking sector: the group has invested 22.5 million dollars
in construction of North Avenue in Yerevan.
From: Baghdasarian
Noyan Tapan
Oct 30 2006
YEREVAN, OCTOBER 30, NOYAN TAPAN. As of June 30, 2006, the assets
of the International Trade Bank (ITB) made 5.1 bln drams (about 11.5
mln USD), its credit portfolio - 1.6 bln drams, and overall capital
- 2.98 bln drams. NT was informed from the bank that ITB has four
branches in Armenia. To recap, ITB was founded in 1992 on the basis
of Menatep-Yerevan Bank CJSC - the Yerevan branch of Menatep Bank
(Russia). In April 2000, several foreign companies acquired ITB's
shares and later united in Makarious (MG) Holdings GMBH, and the bank
was renamed "International Trade Bank" (ITB). Since 2005, Makarious
(MG) Holdings GMBH has owned 99.91% of the bank's shares. Makarious
unites about 60 companies registered in Austria, Great Britain,
Ireland, Switzerland, Cyprus and several CIS countries. The group
is composed of banks, leasing, investment and consulting companies
that implement big investment programs in construction, mining,
wood working, textile industry, precise technologies and trade.
In Armenia, the economic interests of Makarious Group are not limited
to the banking sector: the group has invested 22.5 million dollars
in construction of North Avenue in Yerevan.
From: Baghdasarian