BANKING SECTOR OF ARMENIA BECOMES ATTRACTIVE FOR FOREIGN PLAYERS
ArmInfo
2007-06-15 16:02:00
Five new foreign banks wish to enter the Armenian financial market,
chairman of RA Central Bank Tigran Sargsyan said today at the annual
meeting of Armeconombank. Replying to ArmInfo question, T. Sargsyan
said that in 2007, CB received applications of 5 banks from Austria,
Germany, Russia, Lebanon, which wished to register and get license to
carry out the banking activity in Armenia. He also said that entry of
these banks in the Armenian market will increase the competition, in
view of which it is necessary to continuously increase qualification of
their staff and allocate means for their retraining", T. Sargsyan said.
To note, 21 commercial banks presently function in Armenia.