RA PRESIDENT RECEIVES HEAD OF “VNESHTORGBANK”

YEREVAN, May 23. /ARKA/. RA President Robert Kocharian received
President and CEO of Russian “Vneshtorgbank” Andrey Kostin. According
to the Press Service of Armenian President, Kocharian expressed
satisfaction with the program of cultural exchange, carried out by the
two countries with the assistance of “Vneshtorgbank”. He mentioned the
tour of Bolshoy Theatre currently held in Yerevan. In his turn, Kostin
noted that the bank is going to provide ongoing support for the
organization of tours of known Russian cultural groups in Yerevan.
The participants of the meeting also took up issues on “Vneshtorgbank”
participation in the activities of Armenian “Armsavingsbank”. At that,
Kocharian said that the dynamic development of Armenian banking system
and the reforms carried out during the recent years allow starting
activities in new areas of banking services, in particular, in
insurance, hypothec and leasing fields. Kostin also noted that bank is
to focus on expanding services, provided to individuals. The
agreement on obtaining 70% shares of “Armsavingsbank” by
“Vneshtorgbank” was signed in Yerevan in March, 2004. L.V.-0–