Placement of ARARATBANK shares completed

On September 26, placement of ARARATBNK shares completed ahead of schedule. By the decision of the General Meeting of Shareholders from 17 June 2016, placement started on 20 July 2016 and was planned to be completed by 30 September 2016. For the purpose of increasing the regulatory capital, shareholders increased ARARATBANK capital by AMD 8.5 billion as a result of placement of shares, exceeding AMD 30 billion required capital.    

It should be mentioned as well that, according to the prescribed procedure, after the General Meeting of Shareholders approves the results of placement, respective amendments shall be introduced to the Charter of the Bank and shall be submitted to CBA for registration