Yerevan /Mediamax/. Temporary Administrator of “Ukrprombank” (Kiev) put 13.01% shares of “Armbusinessbank” to sale.

Mediamax reports that Ukrainian media inform on this referring “Ukrprombank”.

Another shareholder of “Armbusinessbank” is Chrystie Management Inc. Company (86,99%).

Mediamax recalls that in April, 2006, “Ukrprombank” informed on the purchase of 35% of “Arminvestbank”, which was later on renamed into “Armbusinessbank”. The Ukrainian “ALFA-Garant” insurance company, affiliated with “Ukrprombank”, also acquired 35% of “Armbusinessbank” shares.

“The market is not large in Armenia. It does not cost expensive to enter it and occupy leading positions. Besides, the prices for banks are not high. “For 35% package of shares we paid only $3mln, and already this year we plan to gain about $12mln of profit”, Chairman of “Ukrprombank” Board of Directors Alexander Soltus stated in May, 2008.

Speaking on September 19, 2009, at the opening of the new head office of “Armbusinessbank”, Chairman of the bank’s Board of Directors Ara Kirakosyan stated that over the past 3 years “Armbusinessbank” had managed to improve the basic financial indices. The bank has 20 branches in Armenia and NKR, its assets have reached 85bln, having 15 times increased in the recent 3 years. The capital of the bank increased for over 9bln AMD. The credit portfolio of the bank made 35bln AMD in September. It was planned that by the end of the year it would increase for 10bln AMD more.