GROWTH OF ARMENIAN BANKING SYSTEM THIS YEAR TO MAKE ABOUT 70%, ROBERT KOCHARIAN STATED

Mediamax
Oct 10 2007
Armenia

Yerevan, October 10 /Mediamax/. Armenian President Robert Kocharian
stated that, according to the preliminary assessments, the growth of
Armenian banking system this year will make about 70%.

As the special correspondent of Mediamax reports from Brussels,
Armenian President said this on October 9, speaking during the
Armenian-Belgian business-forum.

Robert Kocharian noted that in the course of the recent 3-4 years,
the growth volumes of the Armenian banking system exceed the speeds
of GDP growth approximately twice. The President recalled that a
few large European banks are getting ready to start working in the
Armenian market at once.

Robert Kocharian stated that in the nearest future, the deal on
acquisition of the Armenian Stock Exchange by the Swedish OMX Group
will be concluded.

Speaking at the business-forum, the Minister of Trade and Economic
Development of Armenia Nerses Yeritsian informed that the contract
with OMX is planned to be signed in the month of October.

From: Emil Lazarian | Ararat NewsPress