YEREVAN, January 14. /ARKA/. The banks operating in Armenia today may amalgamate soon, bringing the total number from 21 down to 14, Haykakan Zhamanak (Armenian Time) newspaper says.

In fact, the press secretary of the Central Bank of Armenia Mery Shahinian has not refuted this information, the newspaper says.

“Time will show”, she said when asked if only fourteen will remain out of the current 21 banks.

“We will be increasing the authorized stock aiming at stabilization in banks”, she said.

On December 30, 2014, the central bank board meeting decided to increase the minimum authorized stock requirements for the banks from 5 to 30 billion drams, which is expected to promote consolidation.

Ameriabank and Inecobank are said to consolidate, according to the newspaper. –0--