NASDAQ OMX ARMENIA WELCOMES ARMECONOMBANK AS ITS MEMBER
ArmInfo
2009-02-20 17:40:00
ArmInfo. Effective from February 20, 2009, "Armenian Economy
Development Bank" open joint stock company (Armeconombank ojsc) was
admitted as a member of NASDAQ OMX Armenia stock exchange. Membership
status will provide the bank with full access to all exchange markets,
including corporate securities, Government bonds, REPO, and foreign
currency.
By data of Armeconombank, as of January 1 2009 total capital of the
bank was 8.6 billion drams. Assets – 52 billion drams, credit portfolio
– 27 billion drams and net profit for 2008 – 460 million drams.
Armeconombank ojsc is the successor of the Armenian branch of the USSR
"Zhilsotsbank", which was established in 1988. In 1991, the bank was
reorganized into an open joint stock company.
Armeconombank has been listed on the Armenian Stock Exchange since
2002, and is currently the only company with stocks listed in the B
list of NASDAQ OMX Armenia – at present, there are no stocks included
in the A main list of the stock exchange, while stocks of other eight
companies traded on the exchange are admitted to trading on the free
C market.
Major shareholders of the bank are Sukiasyan family that owns 53.4%
of all shares, European Bank for Reconstruction and Development (25%),
"Harwal Limited" company (5.48%), and the rest of the shares (over 16%)
belongs to the public. As of the end of year 2008, Armeconombank’s
total capital was approximately AMD 8.8 billion, and total assets
exceeded AMD 50.3 billion. Armeconombank has 46 branches in Yerevan
and across Armenia.
In total, at February 20, 2009, NASDAQ OMX Armenia has 22 members,
including 15 banks.
The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It
delivers trading, exchange technology and public company services
across six continents, and with over 3,900 companies, it is number
one in worldwide listings among major markets. NASDAQ OMX technology
supports the operations of over 60 exchanges, clearing organizations
and central securities depositories in more than 50 countries.
In January 2008, Nordic exchange operator OMX Group acquired 100%
of shares of the Armenian Stock Exchange (Armex) and the Central
Depository of Armenia (CDA). After the combination of NASDAQ and OMX
in February 2008, Armex and CDA have become fully owned by the NASDAQ
OMX Group, Inc.
On January 27, 2009, "Armenian Stock Exchange" ojsc was officially
renamed as "NASDAQ OMX Armenia" ojsc.