YEREVAN, November 17. /ARKA/. Six Armenian banks operating in the 90's are still in the process of liquidation, Finance Minister Vache Gabrielian said yesterday at a Q&A parliament session.

He said in those years Armenia had over 70 banks and their number has reduced to 21 now. Of all the banks that have opted for liquidation, currently in the process of liquidation are Ardshinbank, Lendbank, Credit-Yerevan Bank, United Bank, Bank of Armenia and Armaviabank, according to the minister.

He said the bank legislation has been radically revised. He also stressed that since the early 2000s Armenia has not seen a bank problem, but also introduced a deposit guarantee system.

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Tags: Armenia, Banks, Liquidation

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In order to optimize its businesses Russian VTB Group has made a strategic decision to implement leasing operations and transactions in Armenia through its subsidiary Bank VTB (Armenia), the latter said in a statement today.

Categories: Banks @en, General news, News, News of the hour | Comments Off on Liquidation of VTB Leasing is a technical decision: CEO

Tags: Bank VTB (Armenia), Liquidation, VTB Leasing

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