Yerevan /Mediamax/. Lebanese Credit Bank announced the purchase of 51% of “Anelik Bank” shares and the start of strategic partnership with the Armenian bank.

Mediamax reports that, speaking at a news conference in Yerevan on July 6, Chairman of Credit Bank’s Board of Directors Tarek Khalife stated that the talks, which had lasted for over 2 years, were completed successfully, and the Lebanese bank replenished the capital of “Anelik Bank” for 9bln AMD, making it 15bln.

Previously, “Anelik Bank” had 4 individual shareholders, each possessing 25% of the shares. After the deal, the given individuals possess 12.25% of the bank’s shares.

“Our decision is based on our vision of the future of Armenia’s banking system, which continues growing and will turn Armenia into the regional banking center”, Tarek Khalife stated.  

Chairman of “Anelik Bank” Board Samvel Chzmachyan noted that as a result of the deal, Credit Bank gained access not only to the Armenian, but also to the Russian banking market: there is the subsidiary of “Anelik Bank” functioning in Russia: “Anelik Ru” Bank.

Chairman of “Anelik Ru” bank’s Board Armen Kazaryan noted that the deal with the Lebanese bank will be useful for “Anelik” system for money transfers and will help expand the geography of countries, where the service functions.

Answering the question on possible rebranding of the bank, Samvel Chzmachyan stated that “Anelik Bank” is one of the most recognized banks in CIS and it will be “unwise” to change its name.

Samvel Chzmachyan informed that “Anelik Bank” concluded the second quarter of 2009 with losses at the volume of about 160mln AMD, which is the first case in the history of the bank, expressing hope that nevertheless the bank will conclude the year with profit.

Chairman of the Central Bank (CB) of Armenia Artur Javadyan stated that the entry of Credit Bank into the banking sector of Armenia evidences confidence towards the financial system of the country and towards a particular financial institution, which is especially important in conditions of the global financial-economic crisis.

“Presence of a new shareholder will allow “Anelik Bank” taking up more aggressive actions in the Armenian market and expanding the range of services”, Artur Javadyan stated.

CB Head reminded that “this is the third and unprecedented as to its volume replenishment of an Armenian bank’s capital this year”, adding that 3 more banks have presented applications to CB to replenish their own capital.

Artur Javadyan also informed that two major international financial structures consider the opportunity to purchase a financial institution or a bank in Armenia.