YEREVAN, February 9. /ARKA/. The number of banks in Armenia may drop from the current 21 to 14-16, Ruben Melikyan, Chief Financial Officer of the Lebanese-owned bank and a member of its Board, said in an interview with ARKA news agency.

According to him, this is likely to be prompted by the Central Bank’s 2015 decision requiring that banks raise their minimum total capital to 30 billion drams.

"The reduction will not lead to the establishment of oligopolies in the banking system. There will be nothing tragic in it, especially that more than 10 banks will continue operating and most of them are owned by different owners and can easily compete in the market," said Melikyan.

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Tags: Armenia, Banks, number, Ruben Melikyan

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Number of customers at Armenian commercial banks was 1,692,866 as of March 2013, a 19.7% increase against the same period of the year before, ArmStat reports

Categories: Banks @en, General news, News, News of the hour | Comments Off on Number of clients to Armenian commercial banks rises to over 1.69mln in March

Tags: CLIENTS, COMMERCIAL BANKS, number, RISE

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The number of ATMs installed in Armenia by commercial banks reached 1,123 at the end of September

Categories: Banks @en, General news, News | Comments Off on Number of ATMs in Armenia grows to 1,123

Tags: ATM, growth, number

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