ARKA News Agency
March 24 2004
ENTRY OF VNYESHTORGBANK AT ARMENIAN MARKET TO ALLOW INCREASING OF
ARMENIAN POPULATION TRUST TO BANKING SYSTEM
YEREVAN, March 24./ARKA/ Entry of Vnyeshtorgbank at Armenian market
will allow increasing of Armenian population trust to banking system,
Chairman of VTB Board Andrey Kostin stated at the meeting with RA
Prime Minister Andranik Margarian. Kostin stressed that Russia
reports growth of population trust to the banks.
He noted mutual importance of the deal and said that VTB will make
everything for development of Armsavingsbank. First of all for
improvement of servicing of the population, stimulation of investment
programs and deepening of economic and trade relations between the
countries. According to him, political stability in Armenia, level of
economic growth, economic policy of the Government and liberal legal
field of the banking system are favorable for realization of this
goal.
RA Prime Minister said that the Government is ready to provide
practical assistance to VTB, which will contribute to tightening of
traditional economic and trade links between RA and RF.
Russian Vnyeshtorgbank purchased 70% of Armsavingsbank (Armenia)
shares. The signing of the agreement took place today. L.D. -0 –