ITB BANK TO GET GERMAN DEPOSITS
By Ara Martirosian

AZG Armenian Daily
26/10/2006

According to the information disseminated by the International Trade
Bank (Armenia), the bank became one of the participants of the program
initiated by the German KfW organization. The program is called
"For Development of the Real Estate Stable Market."

In this connection, Ara Kitbalian, Executive Director, expressed the
opinion that this program will make the banks decrease the mortgage
deposit percents and prolong the payment deadlines. The Bank is going
to allocate mortgage deposits from its own sources, as well.

Besides, the bank informed that "ITB"(Armenia) bank belongs to
"Makarios" holding that united about 60 various companies in Austria,
in the Great Britain, in Ireland, in Switzerland, in Cyprus and in
number of CIS states.