AMERIABANK INTENDS TO ACQUIRE ONE OF OPERATING COMMERCIAL BANKS OF ARMENIA
ArmInfo
2008-10-16 16:24:00
ArmInfo. AMERIABANK intends to acquire one of the operating commercial
banks of Armenia, Director of the Department for Development Tigran
Jrbashyan told journalists, Thursday. According to him, at the moment
variants of the most profitable acquisition are being considered. The
format in which the acquired bank will operate has not been determined
yet, he noted. "We are considering both the variant of entire
merger and the bank’s activity within the frames of our structure",
Jrbashyan said. He added that AMERIABANK plans to conduct aggressive
policy in the market, i.e. it may acquire other commercial banks as
well. To recall, there are currently 22 commercial banks in operation
in Armenia.
Speaking of the prospects for expansion of the bank’s branch network,
Jrbashyan noted that a branch will shortly be opened in the capital
of Nagorno-Karabakh, Stepanakert, and 2 more branches in Armenia in
late 2008 early 2009.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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