YEREVAN, February 28. /ARKA/. In 2017 Armenian banks will be focusing on the introduction of digital-technology, according to Araratbank CEO Ashot Osipyan.

"The banking system will be introducing new technology, and lending will be raised to a higher level. We expected also intensification in the field of energy-saving projects, however, the digital technology will be the main trend throughout 2017," he said in an interview to ARKA news agency.

Osipyan said the competition between local banks will toughen more this year and in order to secure a higher return, they will have to step up their actions in the digital space. This, in turn, will allow the banks to more effectively communicate with their clients.

The banker said also that under its new strategy in 2017 Araratbank will be developing commercial and investment services as well as digital-banking.

He said with the help of remote Digital Banking the customers will be able to use electronic and mobile banking services. He added that the bank will be issuing bonds for enterprises. It also plans to conduct an IPO.

Araratbank is owned by Flash oil trader -72.73%, EBRD - 18.14%% and Rural Impulse Fund II SA SICAV SIF -8.58%. -0-