Yerevan, June 27. /Mediamax/. “Armsavingsbank” has been renamed into “VTB-Armenia Bank”.

As the press service of the Central Bank of Armenia told Mediamax today, the relevant decision was made by CB chairman on June 20.

70% shares of “Armsavingsbank” belongs to Russian “Vneshtorgbank”.

In September 2001, the Government of Armenia made a decision to privatize the state “Armsavingsbank” by selling it to ARCH Limited Consortium [the Bahamas] and МIKA Armenia Trading. In early 2003, the whole share package passed on to “МIKA Armenia Trading”.

In March 2004, the Russian “Vneshtorgbank” purchased 70% shares of “Armsavingsbank”.

The shareholders of the bank are “Vneshtorgbank” OJSC [70,002%] and “МIKA Armenia Trading” LtD. [29,998%].