Tuesday, October 1 2013 18:42

Lebanese CreditBank increases its stake in Anelik Bank from 89.95% to 100% and appoints Nerses Karamanukyan as Chairman of the bank's Board


ArmInfo. Lebanese CreditBank S.A.L. has increased its stake in Anelik Bank from 89.95% to 100% and has appointed Nerses Karamanukyan as Chairman of Anelik Bank' Board.

The 10.05% stake has been obtained from the former Chairman of Anelik Bank's Board Samvel Chzmachyan, who has been appointed as President of the Union of Banks of Armenia.

CreditBank bought a 51% stake in Anelik Bank in Feb 2009. As a result, the stakes of the former four shareholders were reduced from 25% to 12.25% apiece. In Q2 2011 one of the shareholders withdrew, giving CreditBank an additional 18.5% stake. In Q3 2012 CreditBank increased its stake to 89.95%, with 10.05% remaining in the hands of Samvel Chzmachyan.

2001-2009 Nerses Karamanukyan was the Executive manager of the IFC (World Bank Group) Representative office in Yerevan in 2009-2011 he was the Chairman of the Board of Ardshininvestbank CJSC, in 2013 he became a member of the Council of Anelik Bank CJSC.

According to ArmInfo's Financial Rating of Banks of Armenia, as of July 1 2013 Anelik Bank's capital totaled 13.4bln AMD, assets 63.9bln AMD< loans 36.4bln AMD, obligations 50.5bln AMD.
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