YEREVAN, July 23. /ARKA/. Armenia, as a member of the Eurasian Economic Union, can present Iran's financial interests in the union countries, Ph.Dr. Ashot Tavadyan, the head of the department of mathematical modeling in economy at the Armenian State University of Economics, said in an interview with ARKA News Agency.

He said Iran will start opening new financial organizations in Armenia in the future when it gets rid of the economic sanctions.

«In this connection, we shouldn't miss our chance and we should provide Iranians with everything necessary for opening Iranian banks' branches here,» Tavadyan said in his interview. «More than that – taking into account that Armenia is a member of the Eurasian Economic Union, we would present Iran's financial interests, especially in the banking sector, in the union.»

Iran's Mellat opened its Mellat Bank subsidiary in Armenia in 1996. Its clients are mainly small and medium-size enterprises involved in trade relations between the two countries as well as tourists and students.

Mellat Bank's assets totaled AMD 27.7 billion in early July 2015 after growing 0.46% since the beginning of the year and liabilities shrank 46% to AMD 8.85 billion.

The bank's capital amounted to AMD 18.89 billion (68.76% growth) and loan portfolio to AMD 5.45 billion (1.25% decline). Its liabilities to clients totaled AMD 6.22 billion (12.91% decline).

Mellat Bank earned AMD 298.8 million in profits in Jan-June 2015 against the AMD 60.5-milion losses sustained at the same period a year before. ($1- AMD 479.94). --0--