HAYKAKAN ZHAMANAK: SEVERAL ARMENIAN BANKS TO MERGE

Several Armenian banks will be merged in the near future, and their
number will be reduced from 21 to 14, according to ‘Haykakan Zhamanak’
daily. The spokeswoman for the Central Bank of Armenia (CBA) Mary
Shahinyan in fact didn’t refute that information yesterday.

“Time will show. No one can say anything at the moment. We will
increase authorized capital to stabilize the banks,” she said.

At the sitting of CBA Board on December 30, it was decided to raise the
minimum amount of aggregate capital from 5 to 30 billion, due to which
a merger will occur. Ameriabank and Inecobank are said to be merged.

14.01.15, 12:05