YEREVAN, December 9. /ARKA/. Armenian Prime Minister Tigran Sargsyan and Lebanese President Michel Suleiman met in Yerevan on Friday.

Expressing satisfaction at cooperation between the two countries’ banking sectors, they said that there are still untapped resources for investment, Armenian government’s press office reported.

One of 21 commercial banks operating in Armenia is Byblos Bank Armenia, a subsidiary of Lebanese Byblos Bank SAL that holds 65% in the subsidiary with the remaining shares owned by EBRD (25%) and OPEC International Development Fund (10%).

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Lebanese banks are negotiating over acquisition of one of Armenian bank’s stakes, Dr. Francois Bassil, chairman of the council of Byblos Bank Group and Byblos Bank Armenia CJSC, said at a news conference on Tuesday.

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