YEREVAN, November 3. /ARKA/.  At a regular meeting the Board of the Union of Banks of Armenia (UBA) elected Mher Ananyan, the Executive Director and Board Chairamn of ARARATBANK OJSC as  new Chairman of the Board of the Union of Banks of Armenia.

He will replace Gevorg Machanyan, the Board Chairman and Executive Director of ArmSwissbank CJSC, who held this post in 2021-2022.

The Board members of the Union of Banks of Armenia and the Executive Director thanked Gevorg Machanyan for the effective work and wished the newly elected chairman fruitful work and success.

In accordance with the charter of the UBA, the Board Chairman is elected for a term of one year.

Ananyan has about 30 years of experience in the banking system. Since February 24, 2020 he has been the Executive Director and Chairman of the Board of ARARATBANK OJSC. -0-