During the annual share holders’ meeting of ArmEconomBank, executive director Ashot Osipyan, announced that in 2005, the bank actives were increased by 1.6%. There are 1,500 bank shareholders and thenominal price for the bank stocks is 2.500 AMD, while the real price is 6.500 AMD. In 2005, the annual interest rates of the bank dividends were 11%. “It is a very high mark if we take into account the fact that credit interest rates don’t exceed 6%”, said Osipyan and added that in 2005 the bank made 65% of its profit from credits, 15% from banking and 8% from currency exchange. The biggest shareholders of the bank are the Sukiasyans and the European Reconstruction and Development Bank.
