Thursday, June 2 2011 09:55
Prometey Bank signed a credit agreement with German Baader Bank in amount of EUR2 million
ArmInfo. Prometey Bank signed a credit agreement with its partner bank, German Investment Bank BAADER in the amount of EUR2 million. Prometey Bank press-service told ArmInfo the given agreement testifies to the strengthening and development of cooperation and effective partnership between the two banks. These credit funds are provided to Prometey Bank for development of investment activity. Prometey Bank has been engaged in operations with state and corporate securities quoted at leading foreign exchanges, including Stock Exchange Group, Tokyo Stock Exchange, NYSE Euronext, Deutsche Borse. In December 2010 the first transaction with Eurobonds was effected. The company's shares are traded on the regulated unofficial markets of all German stock exchanges. Moreover, Baader's shares are listed in the m:access market segment of the Munich Stock Exchange that demands additional disclosure requirements. It manages in excess of 300,000 order books on these exchanges. With 328 employees the Baader Bank AG with its headquarters in Unterschleissheim near Munich, is Germany's leading securities trading bank. Baader is the market leader in broker companies in Frankfurt and a member of the six other German stock exchanges as well as key stock exchanges in Europe. As well as that, through a network or partner companies, the bank has access to the most important stock exchanges in the world such as New York, Tokyo and Singapore. At present the only partner bank of BAADER in Armenia in Prometey Bank.
Ranking of Armenian commercial banks prepared by ArmInfo says that Prometey Bank took the 3rd position in the banking system as of April 1 2011 in terms of the statutory capital - 14.4 bln drams and the 7th position in terms of general capital - 17.8 bln drams. Assets of the bank totaled 32.2 bln,. Provision of crediting totaled 17.2 bln drams. The balance on nostro-accounts totaled 1.9 bln drams. The bank took the 4th position in terms of ROA- 0.81%. Global Finance magazine recognized Orimetey Bank one of the best Sub-custodian banks in the world and the Best Subcustodian Bank of Armenia in 2011. Global Finance selected the banks by the service and preservation of assets in the markets worldwide.
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