INCREASE IN CREDIT PORTFOLIOS OF ARMENIAN BANKS REGISTERED IN FIRST QUARTER OF THIS YEAR

Noyan Tapan
Mar 15 2006

YEREVAN, MARCH 15, NOYAN TAPAN. During the March 15 meeting of the
Armenian President Robert Kocharian and the newly appointed chairman
of the Union of Armenian Banks, Director General of ACBA Bank Stepan
Gishian, the sides attached importance to the necessity to increase the
number of transactions conducted through the banks, in which case it
will be possible to secure the local resources of economic investments
by concentrating the monetary resources available in Armenia.

S. Gishian reminded the Armenian President that an increase in the
credit portfolios of the banks was already registered in the first
quarter of this year, and consistent steps are being taken to attract
more deposits.

According to a press release of the RA President’s press service,
the sides also discussed the decisive steps expected on the mortgage
market this year, which will open new opportunities for the population.