Pan-Armenian bank may be reorganized into Pan-Armenian fund

25.05.2017 14:25
Pan-Armenian bank may be reorganized into Pan-Armenian fund

YEREVAN, May 25. /ARKA/. The Pan-Armenian Bank may be reorganized into Pan-Armenian Fund, head of the Central Bank's Financial Stability and Development Department Andranik Grigoryan told journalists on Wednesday.

"The Central Bank is considering various options, and the most relevant one is reorganizing it into the Pan-Armenian Fund, which will allow investors to invest more flexibly and promptly," Grigoryan said.
He noted that the Pan -Armenian Bank implemented a number of successful projects in the processing industry and tourism.

"In the modern financial sphere, the flexibility of financial structures, the speed and availability of favorable conditions for investors are of particular importance," Grigoryan said.

The head of the Central Bank Artur Javadyan repeatedly stated about the regulator’s intention to withdraw from the capital of all subsidiaries, including the Pan-Armenian Bank. Moreover, he repeatedly stated that the Pan-Armenian Bank was negotiating with serious investors.

The Pan-Armenian Bank is a development bank, owned exclusively by the Central Bank. Its authorized capital is 7.5 billion dams. ($ 1 - 482.89 drams). -0-


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