Armeconombank is making a public offer of shares from June 14 to October 31. 373,135 ordinary shares were issued with a market (acquisition) value of 5,360 AMD each (nominal value: 2,080 AMD), the total volume of securities with a market value of 2,000,003,600 AMD (nominal value: 776,120,800 AMD).
Shares can be purchased by all natural and legal persons from 54 branches of the bank operating in Yerevan city and marzes.
The book value of shares is steadily increasing. in the last 3 years (as of 31.12.2020 compared to 31.12.2023) the book value of the shares has increased by about 40% (calculated by comparable* share prices), which is combined with the annual dividend payment policy, greatly emphasizing the demands of both shareholders and the bank efficient development which will again contribute to the interests of the shareholders. The bank has been paying dividends to its shareholders for the 10th year in a row. All this speaks to the attractiveness of the stock.
Although, like any financial instrument, the acquisition of shares also implies certain risks due to changes in the balance sheet (market) value, but this risk is minimized due to effective risk management mechanisms implemented in the bank.
Shareholders are given the opportunity not only to receive an annual dividend, but also to participate in the management of the bank by being part of a number of implemented projects. The growing number of shareholders, whose number approaches 7,000, testifies to the trust formed in Armeconombank.
Armeconombank, being at the beginning of the formation of the banking system, thanks to the experience gained over 30 years, strengthens its position in the market every year, ensuring a steady growth of financial indicators.
Only in the last three years.
- The bank’s assets increased by 45%, amounting to about 465 billion drams
- Liabilities increased by 45%, amounting to more than 404 billion drams
- Loans given to customers increased by 51%, amounting to more than 291 billion drams
- Total capital by 45%, making about 61 billion drams
- 2023 the annual net profit of the bank was about 5 billion drams
It is also worth noting the appreciation of the role of corporate responsibility by Armenian Bank. in 2023 alone, the bank directed about 210 million drams to the implementation of social and charity programs, and the other day it was also announced to provide 100 million drams of support to the residents affected by the severe consequences of the flood in Lori and Tavush marzes.
2023 of Armeconombank you can get to know the achievements in more detail in the video.
The prospectus was registered by the Central Bank of Ukraine and published with the completion of the prospectus in the “Prospectus” sub-section of the “Owners” section of the Bank’s website ( ), www.azdarar.am and is available at the head office of Armeconombank, c. Yerevan, at Amiryan 23/1.
* (On April 21, 2023, by remote voting of the Bank’s shareholders, in an extraordinary meeting, it was decided to carry out a division of the Bank’s ordinary shares in the ratio of 1 share to 5 shares, as a result, the nominal value of 1 share was reduced 5 times, from 10,400 AMD to 2,080 AMD. The increase in the book value in order to calculate at comparable prices, the balance sheet value on 31.12.2020 was proportionally reduced according to the above.
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