Central Bank of Armenia established yesterday that N31 banking license of BTA Bank has expired.

According to CB press service, the bank registered the agreement on merger and deed of exchange between Armeconombank (the merger bank) and BTA Bank.

From this moment, Armeconombank will perform as the permitted successor of BTA Bank.

It is worth reminding that on March 18, Armeconombank and BTA Bank shareholders were in favor of voting merger, which would result in BTA Bank ceasing its activities as an independent legal body and transfering all of its rights and responsibilities to the successor bank – Armeconombank.