"ARMSWISSBANK" BECAME THE FIRST BANK OPERATING IN ARMENIAN FINANCIAL MARKET, WHICH WAS GRANTED A LICENSE FOR IMPLEMENTATION OF BROKERAGE AND CUSTODY OPERATIONS
Mediamax News Agency, Armenia
June 7 2007
Yerevan, June 7 /Mediamax/. "Armswissbank" CJSC became the first bank
operating in Armenian financial market, which was granted a license
for implementation of brokerage and custody operations.
Executive Director of "Armswissbank" Gevorg Machanian said this in
an interview to Mediamax.
He noted that due to the recent changes in the sphere of regulations,
commercial banks of Armenia gained the opportunity to take up
specialized investment banking activity – provision of brokerage and
custody services, as well as services on asset management.
The point, in particular, is the opportunity to carry out operations
with corporative securities. Earlier, the banks could realize such
operations only with state securities.
Gevorg Machanian stressed that, from the day when "Armswissbank"
was established, it stated its intention to position itself as an
investment bank. In fact, starting from May 30, the bank has the
authorities, necessary for that, he stated.
The Head of "Armswissbank" noted that in the nearest future, the bank
will secure the issue of corporative bonds of two major companies.