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"ANELIK BANK" INCREASES ITS CAPITAL BY 2.5 TIMES
/PanARMENIAN.Net/
06.07.2009 21:41 GMT+04:00
/PanARMENIAN.Net/ "Anelik Bank" will increase its capital by 2.5
times after entering into alliance with Lebanese Credit Bank, which
has acquired 51% of Armenian bank's shares, "Anelik Bank" CJSC's
Board Chairman Samvel Chzmachian told a news conference. Earlier,
the bank enjoyed the reputation of Armenia's best labor bank,
because since its inception, it generated its capital due to its own
work and its own income, he said. "Only during the recent years when
Armenia's banking system became more attractive to foreign investors,
we started to fall behind the paces of its development," he said. In
that period, the bank faced the need of increasing its capital,
and was lucky enough to find a an investor like the Lebanese Credit
Bank. "The transaction is advantageous to both "Anelik Bank" which
will increase its capital by 2.5 times and the Lebanese Bank. There's
a special connection between Lebanon Armenia and Russia, because our
subsidiary bank has been operating in Russia for many years."
Armenian bank's board chairman stressed the great positive importance
of the transaction, especially in crisis circumstances.
In his turn, Credit Bank's board chair Tarek Khalife added that the
process of acquiring "Anelik Bank's" shares started much before the
world crisis. "Crisis is a temporary phenomenon, while our transaction
has long-term perspectives," he said, adding that the transaction
will help the bank to develop with new assets because the new shares
acquired will help the bank increase its capital by AMD 15 billion. In
that connection, Khalife said that Armenia's economy and banking system
will develop, making the country a banking centre on CIS territory.
According to the Lebanese Bank's board chair, the deal will help
increase the level of services rendered.
Khalife expressed gratitude to RA Prime Minister Tigran Sargsyan,
"Anelik Bank's" board chairman Samvel Chzmachian and all other
interested parties.
/PanARMENIAN.Net/
06.07.2009 21:41 GMT+04:00
/PanARMENIAN.Net/ "Anelik Bank" will increase its capital by 2.5
times after entering into alliance with Lebanese Credit Bank, which
has acquired 51% of Armenian bank's shares, "Anelik Bank" CJSC's
Board Chairman Samvel Chzmachian told a news conference. Earlier,
the bank enjoyed the reputation of Armenia's best labor bank,
because since its inception, it generated its capital due to its own
work and its own income, he said. "Only during the recent years when
Armenia's banking system became more attractive to foreign investors,
we started to fall behind the paces of its development," he said. In
that period, the bank faced the need of increasing its capital,
and was lucky enough to find a an investor like the Lebanese Credit
Bank. "The transaction is advantageous to both "Anelik Bank" which
will increase its capital by 2.5 times and the Lebanese Bank. There's
a special connection between Lebanon Armenia and Russia, because our
subsidiary bank has been operating in Russia for many years."
Armenian bank's board chairman stressed the great positive importance
of the transaction, especially in crisis circumstances.
In his turn, Credit Bank's board chair Tarek Khalife added that the
process of acquiring "Anelik Bank's" shares started much before the
world crisis. "Crisis is a temporary phenomenon, while our transaction
has long-term perspectives," he said, adding that the transaction
will help the bank to develop with new assets because the new shares
acquired will help the bank increase its capital by AMD 15 billion. In
that connection, Khalife said that Armenia's economy and banking system
will develop, making the country a banking centre on CIS territory.
According to the Lebanese Bank's board chair, the deal will help
increase the level of services rendered.
Khalife expressed gratitude to RA Prime Minister Tigran Sargsyan,
"Anelik Bank's" board chairman Samvel Chzmachian and all other
interested parties.