Friday, September 12 2014

CreditBank S.A.L. (Lebanon), the sole owner of Anelik Bank, has replenished the authorized capital of Anelik Bank by 1 billion AMD through direct investment. The press service of Anelik Bank has told ArmInfo that CreditBank S.A.L.  took the decision on replenishment of the authorized capital in May 2014. The funds will be spent on implementation of the strategic plan of the Bank, retention of the development rates, as well as expansion of the spectrum of services. 

"The replenished capital will allow Anelik Bank to expand and diversify lending, extend the branch network and the spectrum of services. I can say with confidence that with the support of CreditBank S.A.L., one of the largest Lebanese banks, Anelik Bank will be able to multiply its achievements and launch more ambitious projects", says Nerses Karamanukyan, Chairman of the Board of Anelik Bank.  To note, Anelik Bank has 13 branches, with 6 of them in the marzes. As of 1 July 2014, the total capital of Anelik Bank amounted to 12.3 bln AMD, assets - 69.2 bln AMD, lending - 47.4 bln AMD (68.5% of the Bank's assets), liabilities - 56.9 bln AMD. The share of time deposits was 56.9% or 32.4 bln AMD, with over 85% of this amount being the funds of individuals. Anelik Bank participates in almost all the international credit programs being implemented in Armenia via the banking system, as well as in the state programs subsidized by the Armenian Government. Anelik Bank was the first in the card market of Armenia to launch and service Visa and MasterCards simultaneously with the local cards. 

CreditBank S.A.L. (Lebanon) announced its joining Anelik Bank's capital in February 2009. In June 2009 it acquired 51% of the Bank's shares. As a result, the share of each of the previous four shareholders dropped from 25% to 12.25%.  Afterwards, in Q2 2011 one of the shareholders withdrew from Anelik Bank's capital and the Lebanese bank's stake grew to 69.5%. In Q3 2012 CreditBank S.A.L.  increased its stake to 89.95%. In October 2013 the Lebanese bank's stake rose from 89.95% to 100%, and retail services and SME lending became the priorities in the Bank's activities.