Armsberbank gets ready to buy Georgian Bank

ITAR-TASS News Agency
March 21, 2004 Sunday 8:42 AM Eastern Time

Armsberbank gets ready to buy Georgian Bank

By Tigran Liloyan


Armsberbank is getting ready to buy the Georgian Bank, Armsberbank
Board Chairman Mikhail Bagdasarov told Itar-Tass on Sunday.

He said representatives of the Armenian bank in Tbilisi for auditing
the Georgian Bank. They will come back to Yerevan several days from
now, and the picture will be clear, Bagdasarov said.

“The Armsberbank acquisition of the Georgian Bank, which has a wide
network of offices, will promote better integration between Armenia
and Georgia,” he emphasized.

“There are agreements to the effect with the Georgian administration,
bank shareholders and the Georgian Central Bank. It will be the first
large Armenian acquisition in Georgia,” Bagdasarov said.