Central Bank of Armenia pledges support to banks in merging

04.11.2009 18:30
Central Bank of Armenia pledges support to banks in merging

YEREVAN, November 4. /ARKA/. The Central Bank of Armenia is ready to support banks in their efforts to merge, Arthur Javadyan, chairman of the Central Bank said Tuesday in an interview with ARKA News Agency.

“Welcoming merger, we are ready to support banks actively, if they appeal to the Central Bank with such an initiative.”

Javadyan said that the Central bank possesses no official information about establishment of a new bank and/or functioning banks’ merger.

“But such a thing can happen later, since talks about negotiations over possible mergers are going outside of the Central Bank,” Javadyan said in its interview.

Twenty two banks with their 378 branches function in Armenia now.

The Central Bank of Armenia says in its quarterly review of banks’ activities that banks’ aggregate assets reached AMD 1230.5 billion by late September after growing10.1% or by AMD 112.8 billion over the third quarter.

Their total capital grew 3.4% or by AMD 8.5 billion to AMD 258.3 billon. ($1=AMD 386.47).M.V.-0---


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