Yerevan welcomes the arrival of German bank “Baader” to the local financial market

29.08.2011 12:53
Yerevan welcomes the arrival of German bank “Baader” to the local financial market

YEREVAN, August 29. /ARKA/. During the meeting with the Chairman of the Board of Directors of the German investment bank “Baader” (Baader Bank AG) Uto Baader, Armenian Prime Minister Tigran Sargsyan welcomed the arrival of the Bank to the Armenian financial market.

“We are trying to support cooperation between Armenian and foreign financial institutes and hope that Your visit will promote strengthening of the relations between financial systems of Germany and Armenia. We also try to help our commercial banks to establish direct links for the search of reliable partners abroad. The functions implemented in our financial market are very important. We have a small but steady and healthy financial system and we would be happy to see you in our financial market”, said Sargsyan.

Baader thanking Sargsyan for the reception told about the impressions of his first visit to Armenia. He presented the work of the bank saying that it is mainly directed at financing of the development of infrastructure programs.

The parties discussed the current state of the bond market in Armenia and possible ways of interaction. Both sides agreed that cooperation of the German bank with the Armenian bank “Prometey” will involve the Armenian financial institutes in global financial markets through a broad network of “Baader”.

The parties also discussed the prospects of bilateral cooperation, particularly possible participation of “Baader” in a number of investment programs in Armenia through the provision of consulting services.

In this context Sargsyan presented the details of the project of Armenian Center of Excellency in oncology, programs related to the activity of chemical plant “Nairit” in Yerevan, construction of transport corridor “North-South”, new nuclear power plant and sport complex in the Lake Sevan.

The head of the bank expressed his willingness to consider the reviewed programs.

“Baader” is one of Europe’s leading banks engaged in buying and selling securities. Its headquarters is in Munich. The Bank has been established in 1983 and is the member of six stock exchanges in Germany, Paris, Zurich, Amsterdam, Vienna and Virt-X. “Baader” operates in the sale of 340 thousand securities that are traded in major stock exchanges in Germany.

At present, the Bank’s services include consultation, planning tools and account management. In this context, the Bank acts as an intermediary, investment manager and manager of bank accounts and securities.

Since 2010 “Baader” cooperates with the Armenian bank “Prometey”.--0--


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