Thursday, December 24 2009 12:25

Norvik universal loan company to be reorganized into investment bank in 2010


ArmInfo. In 2010 Norvik ULC will come out as an investment bank, the company's press-service told ArmInfo. In 2010 Norvik will be specializing in corporate lending and will start working with corporate clients as an investment bank, says Tigran Bostanjyan, a member of Norvik ULC Council. The company will start introducing new products in the local market already in Q1 of 2010 and will resume consumer and enterprises lending. The company does not rule out participation of reliable client-companies in its capital, he says.

Bostanjyan says Norvik ULC has managed to overcome all the shakes in the global economy and resist the economic crisis. Thanks to the professional activity of the company staff and regular accurate analysis of the local market requirements by Norvik experts, the company has maintained its leading positions in the Armenian market by many indicators.


By data of Norvik ULC as of Dec 1 2009 the assets of the company totaled 15.4 million drams, including 11.1 million drams or 72% was the share of lending. Total capital of the company reached 3 million drams on Dec 1 2009, regulatory capital totaled 2.8 million drams. For 11 months of 2009 interest incomes of the company amounted to 2.3 million drams.


Norvik ULC CJSC was registered and licensed by the Armenian Central Bank in July 2006 and launched activity in late September 2006. The shareholder of the company is the Latvian-Icelandic JSC Norvik Banka.

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