ArmInfo.The Board of Directors of VTB at a meeting on October 16 evening decided to capitalize a subsidiary bank in Armenia worth about 1.2 billion rubles. This is stated in the message of the Center for Disclosure of Legal Information, RBC reports. According to the source, the authorized capital of JSC VTB Bank (Armenia) will be increased by no more than 10 billion Armenian drams (about 1.2 billion rubles) by placing additional ordinary registered shares.
To this end, VTB plans to acquire slightly more than 925,000 shares, "at a price determined in accordance with the legislation of the Republic of Armenia and the charter of CJSC VTB Bank (Armenia). In this case, the share of VTB Bank in the subsidiary credit organization "will remain at the rate of 100%".
To note, as of October 1, 2017, the total capital of VTB Bank (Armenia) is 29.9 billion drams, the regulatory total capital is 36.8 billion drams, assets - 227.7 billion drams. "VTB Bank (Armenia)" CJSC became a participant of the international financial group VTB in April 2004. At present, VTB Bank, the second largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is traditionally one of the leaders of the banking system of the Republic of Armenia in terms of key indicators. The coverage of the branch network of VTB Bank (Armenia) has 67 branches with presence not only in the capital, but in all regions of the country. (The calculated exchange rate of AMD as of 30.09.2017 was 478.41 AMD / $ 1).