CENTRAL BANK OF ARMENIA PERMITS ARDSHININVESTBANK TO PARTICIPATE IN VISA INTERNATIONAL PAYMENT SYSTEM

ARKA
Oct 21, 2008

YEREVAN, October 21. /ARKA/. The Central Bank of Armenia (CBA)
permitted Ardshininvestbank closed joint stock company to participate
in VISA International payment system, the CBA Press Service reports
that the respective decision was adopted at a sitting of the CBA
Council yesterday.

Ardshininvestbank got its license (N 83) from the Central Bank of
Armenia on Feb 27, 2003. "Region" investment financial corporation
is holding 86.82% of the bank’s shares. The International Financial
Corporation became one of the main stockholders of the bank at the
end of 2007 and holds 10% of the shares.

The bank is an affiliated member of MasterCard/Europay international
payment system and a stockholder of Armenian Card closed joint stock
company – a card transaction system on the territory of Armenia.

By the end of September of this year, the bank’s capital had totaled
22.7bln Drams, assets – 119.2bln Drams, liabilities – 94.5bln Drams,
credit assets – 79.8bln Drams and non-distributed profit – 4.1bln
Drams.

Ardshininvestbank has 55 branches, including 6 branches on the
territory of the Nagorno-Karabakh Republic. The bank has its
representative office in Paris. ($1=307.14Drams).