ArmenPress
July 28 2004

CENTRAL BANK TO REGSITER NEW COMEMRCIAL BANK

YEREVAN, JULY 28, ARMENPRESS: Tigran Sarkisian, the governor of
Armenia’s Central Bank, said July 27 that theBank has agreed to
register a new commercial bank with Swiss capital. He said the new
bank-ArmSwiss Invest and Trust Bank, will most likely start operating
later this year. Its constituent capital is 3.3 billion of Armenian
drams.
He said the new bank will be dealing with providing VIP services,
conducting transactions at world markets and pursue also an
investment policy. It is also supposed to offer new banking tools for
the domestic banking sector, which Sarkisian said are not offered by
any of the local commercial banks and “this makes the new bank
interesting.”
Sarkisian also predicted that by the end of the year one of the
leading commercial banks may be re-sold or a merger of banks may
occur.