ArmInfo.Evocabank replenished its share capital by 3 billion drams. This is stated in the message of the Bank, published on its official page.
According to the source, as mentioned by the chairman of Management Board Karen Yeghiazaryan, the decision on capital replenishment was based on the main provisions of the strategic development plan and aimed to support the Bank's further growth and development, improve its competitive positions and contribute to implementation of business expansion policy.
"As a result of replenishment, the share capital totaled AMD 20.0 bln, while general regulatory capital - around AMD 38.0 bln, thus strengthening the Bank's leading positions in terms of capital adequacy", was mentioned at the Bank."
It is reported that the replenishment of the capital was carried out by the shareholder of Evocabank, a citizen of the Republic of Armenia, a resident of Switzerland, Marietta Gevorgyan, as a result of which her share in the capital increased from 95.9% to 96.53%.
Evocabank has been operating in the financial market of Armenia since 1990. According to the Financial Rating of Banks of Armenia as of December 31, 2021, prepared by ArmInfo, Evocabank's assets reached $511.8 million, the total capital exceeded $70.3 million. The bank ended 2021 with a net profit of $2.3 million. As of the reporting date, the regulatory capital of Evocabank amounted to 34.5 billion drams or $71.9 million (with a regulatory minimum of 30 billion drams). In 2021, after a one-year break, the bank raised funds from the placement of its own bonds in the amount of 5.8 billion drams ($12.1 million), which exceeded the two-year-old figure by 8%.
