ARMENIAN ANELIK BANK HAS NO INTENTION TO CHANGE ITS NAME

/ARKA/
July 8, 2009
YEREVAN

YEREVAN, July 8. /ARKA/. Armenian Anelik Bank has no intention to
change its name, despite of the recent sale of 51% of its shares
to Lebanese Cr4edit Bank, Tarek Khalife, chairman of Credit Bank’s
directorial board, said at a press conference on Monday.

Anelik Bank CJSC is to build up its capital by AMD 15 billion thanks
to strategic alliance with Lebanese Credit Bank, whose investments
in the bank’s capital will total AMD 9 billion.

"Anelik is growing, and there is no need to change its name. We
believe in its good name and will leave it unchanged", he said.

Samvel Chzmachyan, chairman of Anelik Bank’s board, in his turn,
said that Anelik is quite powerful brand.

He thinks it would be wrong to lose the brand that operates in more
than 20 well-known banks and in 100 countries.

Anelik Bank was established on July 9, 1990 and registered on
October 1991.

In October 1996, the bank received a general license from Central
Bank of Armenia.

Four individuals held the bank’s shares.

The bank’s assets totaled AMD 38.2 billion, liabilities AMD 32.5
billion, credit investments AMD 20.4 billion and liabilities to
clients AMD 12.4 billion by March 31, 2009.

Now, 51% of Anelik Bank’s shares belong to Lebanese Credit Bank and
four individuals – Samvel Chzmachyan, Armen Ghazaryan, Galina Voronina
and Arthur Arakelyan – hold 12.25% each. They held 25% before.

Credit Bank is one of the leading banks of Lebanon. The bank’s assets
total $1 billion.

The bank is a member of Union of Arab Banks.

Credit Bank’s appearance in Armenia was due to development of
Armenian-Lebanese relations and the Arab world’s interest in Armenian,
Russian and CIS markets. ($1 = AMD 361.27).

From: Emil Lazarian | Ararat NewsPress