Tuesday, August 30 2011 17:53

Regional presence of Armenian Development Bank starts from the NKR


ArmInfo. The Armenian Development Bank (ADB) has opened its first regional branch. The branch is situated in Nagorno-Karabakh at 13, Azatamartikneri Str., Stepanakert.

The ADB press service told ArmInfo that the NKR prime minister, members of the NKR government, the majority shareholders of the bank, as well as entrepreneurs attended the ribbon cutting ceremony. "We are glad for the presence of an ADB branch in the NKR, especially now that Artsakh is festively marking the 20th anniversary of its independence", Chairman of ADB Board Karen Sargsyan said.

In Artsakh the ADB branch will focus on financing of small and medium business, a well as on consumer and mortgage crediting.

To note, the ADB OJSC was founded in 1990. It has 3 branches in Yerevan. As of 1 July 2011, the total number of the bank's shareholders was 75, 13 of them legal entities, and 62 individuals. The majority shareholder of the bank is Rouben Hayrapetyan (19.98%).
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