The annual general meeting of Evocabank shareholders made a decision on replenishing the bank’s capital.

“On May 29, 2020 Evocabank shareholders held their annual general meeting; it was attended by bank shareholders, members of bank Board and Management Board, representatives of the Central Bank and external audit company,” Evocabank said in a press statement.

Within the meeting agenda, among other questions it was decided to replenish the bank’s capital by AMD 2.50bn.

According to Karen Yeghiazaryan, Chairman of the Management Board, the shareholders’ decision on replenishing Evocabank’s capital derives from the strategic development plan of the bank and is aimed at contributing to the bank’s further growth and development, strengthening of its competitive positions  and business expansion policy.

“As a result of capital replenishment, Evocabank will improve its leading positions in banking sector in terms of capital adequacy ratio,” the bank added.