ARMENIAN ACBA DIRECTOR GENERAL CHAIRS UBA

ARKA News Agency, Armenia
March 7 2006

YEREVAN, March 7. /ARKA/. Director General of the Agricultural
Corporate Bank of Armenia (ACBA) Stepan Gishyan was elected Chairman
of the Union of Banks of Armenia (UBA). The decision was made at a
special general meeting of the UBA.

The meeting approved the new wording of the UBA Statute and elected a
new 9-member UBA Board. Formerly, the UBA Board had six members. The
UBA was chaired by Samvel Chzmachyan, president of the “Bank Anelik”.

The UBA is a member of the European Bank Federation.

ACBA was founded in 1995 and incorporated on March 29, 1996. The bank
was founded by the farm unions of Armenian regions under the EU TACIS
program.

From: Emil Lazarian | Ararat NewsPress