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Converse Bank’s charter capital is replenished by AMD 7bln

 Tuesday 04 October 2016
Photo: Converse Bank

Converse Bank’s charter capital has been replenished by AMD 7bln. In particular, Converse Bank’s major shareholder Advanced Global Investments has increased the bank’s charter capital by AMD 6.6 billion, and the Armenian Apostolic Church – by AMD 0.4 billion.

The bank informed that after replenishment of the charter capital by AMD 7 billion after the first stage of replenishment, the total regulatory capital amounts to AMD 28 billion.  

“The Bank’s goal is to increase the range of the offered services, to expand and diversify the loan portfolio considerably, to introduce new, modern banking technologies and instruments,” the bank’s statement reads.

Parallel with the process of gradual replenishment and reinforcement of the capital, the bank also implements revision of the management system and introduction of structures compliant with international standards of corporate management.

The banks reminded about the Investment Projects Committee founded by the initiative of the well-known Argentinean Armenian businessman Eduardo Eurnekian, which was established at the bank to realize comprehensive analysis of the investment opportunities in different sectors of the Armenian economy, assessment of investment attractiveness, as well as evaluation of their feasibility. The Committee members are highly-qualified specialists.

“In the result of works, it is expected to enhance export by the sectors that create added value for primary production, such as agriculture, mining industry, high technologies, and renewable energy, as well as to promote other efficient projects that don’t involve environmental risks. The projects will be reviewed and recommended for further banking financing and for attraction of investments by the Armenian investors from the Diaspora,” the bank informed.

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