AMONG CIS COUNTRIES, ARMENIA HAS BIGGEST MARGIN BETWEEN INTEREST RATES
OF RESOURCES ATTRACTED TO AND INVESTED IN ITS BANKING SYSTEM
YEREVAN, AUGUST 22, NOYAN TAPAN. Chairman of the Central Bank of
Armenia (CBA) Tigran Sargsian said at the August 22 presentation of
BTA Invest Bank that among the CIS countries, Armenia has the biggest
difference between the interest rates of the resources attracted to an
invested in its banking system. He pointed out the necessity of
creating a fair competition field for all the Armenian commercial
banks, which will in turn lead to the reduction of this margin. “The
bank customers will benefit most,” T. Sargsian noted. According to CBA
Chairman, there is no restriction on investments in the RA banking
capital. Moreover, the more regulated the banking system, the more
interest foreign investors show in it. It was also noted that recently
the CBA conducted negotiations with the European Bank of
Reconstruction and Development (EBRD) in order to introduce the
concept of corporate management in the banking system. According to
EBRD experts, the concept’s introduction will sharply increase the
interest in the Armenian banking system.