YEREVAN, May 10. /ARKA/. Mellat Bank Yerevan, a subsidiary of Iran’s Bank Mellat, will open a new branch in Georgia by the end of the first half of the current Iranian year (Sept. 22), Bank Mellat’s chief executive said, according to Financial Tribune.

“We have obtained the permission to establish a branch in Tbilisi and plan to start employing staff,” Hadi Akhlaghi was also quoted as saying by IBENA on Sunday.

Bank Mellat opened a subsidiary in Armenia in 1996 in accordance with the agreement signed with the Central Bank of Armenia. Initially the bank operated as a branch of Iran’s Bank Mellat, but in September 1997 it was reorganized into a subsidiary with a closed joint-stock company (CJSC) status, which denotes a joint stock company with a limited number of shareholders.

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Yerevan-based Mellat Bank CJSC, fully owned by Iran’s Mellat Bank, has increased its authorized capital in compliance with the new requirement of the central Bank of Armenia, Mohammad Bigdeli, chairman of Mellat Bank CJSC’s board, told journalists on Wednesday

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Mellat Bank CJSC, fully owned by Iran’s Mellat Bank, is considering room for opening a branch in Georgia, Mohammad Bigdeli, chairman of Mellat Bank CJSC’s board, told journalists on Wednesday

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Yerevan-based Mellat Bank, fully owned by Iran’s Mellat Bank, has opened its new head office in the city

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The Yerevan-based Iranian Mellat Bank has attracted € 10 million after international sanctions on Iran have been lifted, the executive director of the bank Seyed Mousavi Holamreza said in an interview with Armenian daily ‘Zhamanak” (Time)

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The Yerevan-based Iranian Mellat Bank plans to increase the size of its capital to 30 billion drams to meet Armenian Central Bank’s revised requirement, the bank’s executive director Seyed Mousavi Holamreza said in an interview with local daily “Zhamanak” (Time)

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A high-level official of Armenia’s Central Bank said today there were no grounds for the termination of

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