YEREVAN, October 18. / ARKA /. Armenia’s Central Bank said it registered the office of the Russian Agricultural Bank (Rosselkhozbank). The decision was signed by Central Bank chairman Arthur Javadian on October 16, the regulator’s press office told ARKA.

Earlier, during a meeting with Armenian president Serzh Sargsyan, Rosselkhozbank board chairman, Dmitry Patrushev, said the opening of the office in Armenia will be the first step in cooperation with Armenia in the field of agriculture.

Russian Agricultural Bank is one of the largest banks in Russia. Created in 2000 to boost the agricultural sector and rural areas of the Russian Federation, it provides a large variety of banking services. The bank is fully government-owned.

This will be the second office of a foreign bank in Armenia. The first was opened in November of 2011 by Latvian Rietumu Banka, one of the largest banks in the Baltic States specializing in serving the private sector. -0-