Monday, October 26 2015 19:16

VTB Bank Armenia increases its statutory capital by 17 billion AMD to up to 37.8 billion AMD through additional issue of shares

VTB Bank Armenia increases its statutory capital by 17 billion AMD to up to 37.8 billion AMD through additional issue of shares

ArmInfo. VTB Bank Armenia due to additional issue of shares in the amount of 17 billion AMD increased its statutory capital to up to 37.8 billion AMD. As the bank's press-service informed ArmInfo, VTB Bank (PJSC) has bought out complete package of the additional issue of shares of the CJSC VTB Bank (Armenia), maintaining its 100% stockholding in its Armenian subsidiary. As a result of capitalization the bank's total capital exceeded 46 billion AMD, and has already exceeded the minimum capital requirement of 30 billion AMD to be imposed from January of 2017.  

According to the source, the capital of VTB Bank (Armenia) was increased according to the decision dating back July, 2015. The increase of the capitalization level will contribute to the strengthening of the bank's position in the Armenian banking sector.
 
According to the Express-Ranking of Armenian Banks, prepared by ArmInfo, the total capital of the VTB Bank (Armenia) amounted to 29.3 billion AMD by October 1, 2015 (with y-o-y decline by 35.9%) and the 
statutory capital totaled 20.9 billion AMD (without any y-o-y changes). The accumulated profit of the bank declined by 76.4% year over year and totaled 4.6 billion AMD by October 1, 2015. Bank suffered 1.6 billion AMD loss in 9 months of 2015, of which 400 million AMD in the Q3.
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