Lebanese bank to purchase 51% of bank Anelik (Armenia)

Lebanese bank to purchase 51% of bank Anelik (Armenia)

YEREVAN, February 20. /ARKA/. A Lebanese bank plans to purchase 51% of
the stock of Bank Anelik (Armenia) for 9bln AMD ($30mln).

In his interview to ARKA, Board Chairman Samvel Chzmachyan reported
that $15mln converted into Armenian drams, have been transferred to the
bank’s account at the Central Bank of Armenia (CBA).
`The second part of the sum is to be received within a month,’
Chzmachyan said.

He reported that the transaction will bring the bank’s capital up to
14.3bln AMD. Thus, in terms of capital, the bank will rank among the
six or seven leaders of the Armenian banking system.

Chzmachyan pointed out that the global financial crisis influenced the
cost of the transaction.
`We estimated our bank at a much higher value, but before the crisis,’
he said.

Bank Anelik was founded on July 9, 1990, incorporated on October 1,
1991. In October 1996 the Central Bank of Armenia (CBA) issued General
License #9 to the bank, which is officially named Bank Anelik CJSC.

According to the information at ARKA’s disposal, Bank Anelik has the
11th largest assets, 14th largest authorized capital, 18th largest
total capital and 10th largest liabilities.

As of December 31, 2008, the bank’s assets reached 36.2bln AMD,
liabilities 30.6bln AMD, total capital 5.6bln AMD, balance sheet profit
901.5mln AMD. Last year20the bank’s profit totaled 468.1mln AMD. The
bank has ten branches, as well as Anelik RU daughter bank in Moscow,
Russia. `0–