Evocabank to Replenish its Capital by AMD 2 bln 50 mln

The annual general meeting of Evocabank shareholders' made a decision on replenishing the Bank’s capital.

Evocabank to Replenish its Capital by AMD 2 bln 50 mln

On May 29, 2020 Evocabank shareholders held their annual general meeting; it was attended by Bank shareholders, members of Bank Board and Management Board, representatives of the Central Bank and external audit company.

Within the meeting agenda, among other questions it was decided to replenish the Bank’s capital by AMD 2 bln 50 mln.

As Karen Yeghiazaryan, Chairman of the Management Board, noted the shareholders’ decision on replenishing Evocabank's capital derives from the strategic development plan of the Bank and is aimed at contributing to the Bank’s further growth and development, strengthening of its competitive positions and business expansion policy.

As a result of capital replenishment, Evocabank will improve its leading positions in banking sector in terms of capital adequacy ratio.