Six Armenian banks operating in 90's still in liquidation process

17.11.2011 13:56
Six Armenian banks operating in 90's still in liquidation process

YEREVAN, November 17. /ARKA/. Six Armenian banks operating in the 90's are still in the process of liquidation, Finance Minister Vache Gabrielian said yesterday at a Q&A parliament session.

He said in those years Armenia had over 70 banks and their number has reduced to 21 now. Of all the banks that have opted for liquidation, currently in the process of liquidation are Ardshinbank, Lendbank, Credit-Yerevan Bank, United Bank, Bank of Armenia and Armaviabank, according to the minister.

He said the bank legislation has been radically revised. He also stressed that since the early 2000s Armenia has not seen a bank problem, but also introduced a deposit guarantee system.

"Now, in terms of stability the banks have no problems," Gabrielian said.

He said Ardshinbank has no claims of individual customers. As for Lendbank a customer claims 7 million AMD. Also 82 customers have claims to Credit-Yerevan Bank and two customers have claims to the United Bank. -0-


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