Armbusinessbank opens new `Ani’ subsidiary
05.09.2009 11:46 GMT+04:00

/PanARMENIAN.Net/ On September 3, Armbusinessbank opened a new `Ani’
subsidiary in Gyumri, RA Shirak region, Armbusinessbank press service
reported.

Armbusinessbank was established by the decision of the general meeting
of bank founders in accordance with the constitutive agreement of 14
December 1994. According the agreement the bank is the legal successor
of the shareholding Arminvestbank established in September 1991.

License N40 of the Central Bank of the Republic of Armenia issued on
10 December 1991.

In April 2006 Ukrainian Ukrprombank purchased 35% shares of the
Arminvestbank. In mid-April the Christies Management Company,
registered on the British Virginia Islands, bought the 30% share of
the bank and. In June 2006 Ukrainian Alfa-Garant Insurance Company
purchased the remaining 35% shares of the Arminvestbank.

The decision on renaming the bank to Armbusinessbank was unanimously
accepted at the special meeting of the shareholders of the
Arminvestbank on August 10.

Bank is a member of SWIFT, Western Union, Anelik, Contact as well as
ArCa, MasterCard and Visa International.

21 Armbusinessbank subsidiaries are currently operating in Armenia.