ArmInfo. Anelik Bank has increased its authorized capital by 1.88 bln AMD. The press office of the Bank has told ArmInfo that the capital has been increased due to direct investment by the owner - Credit Bank S.A.L. (Lebanon).
The funds will be spent on implementing the strategic program of the Bank, maintaining the development rates, as well as extending the spectrum of services. "The current replenishment of the authorized capital, like the one in 2014, will enable the Bank to enlarge the range of the services, extend and diversify the lending, attract new customers and expand the branch network. I am confident that with the support of one of the largest Lebanese banks, Anelik Bank will be able to implement more ambitious promising programs," PR representative of "Anelik Bank" CJSC Astghik Martirosyan says,
recalling that in 2014 the owner increased the Bank's authorized capital by 1 bln AMD through direct investment. According to the financial statement of Anelik Bank, as of 1 Oct 2015, the total capital of the Bank amounted to 13.4 bln AMD (1.1% year-over-year decline); authorized capital - 15.3 bln AMD (no changes versus 2014); the share of accumulated loss in the total capital - 2.2 bln AMD (11.4% year-over- year growth). In Jan-Sept 2015, the net loss of the Bank amounted to 1.2 bln AMD (2.5-fold rise in negative profit).
To note, CreditBank S.A.L. (Lebanon) became the shareholder of Anelik Bank in Feb 2009 with a 51% stake. The Lebanese bank increased its stake in Anelik Bank from 89.95% to 100% in Q4 2013. Anelik Bank's Moscow branch Anelik.RU was alienated in Dec 2012 and transferred to Lebanese Credit Bank S.A.L. To recall, the Armenian Central Bank's new standard for the minimum total capital (30 bln AMD versus the current 5 bln AMD) will come into effect on 1 Jan 2017. Seven banks meet that requirement at the moment: ACBA-Credit Agricole Bank, HSBC Bank Armenia, Ardshinbank, Ameriabank, VTB Bank (Armenia), INECOBANK and Areximbank-Gazprombank Group. At present there are 19 commercial
banks in Armenia (BTA Bank and ProCredit have undergone a merger process with other banks).