The Financial, Georgia
Jan 26 2008

Armenian President and PM received the leadership of `Gazprombank’

26/01/2008 12:30 (11:09 minutes ago)

The FINANCIAL — According to Banks.AM, Armenian President and Prime
Minister received in Yerevan on January 25 the Chairman of the Board
of `Gazprombank’ Andrey Akimov and his Deputy Farid Kantserov.

Mediamax notes that in December of 2007 `Gazprombank’ purchased 80%
of shares of the Armenian `Areximbank’.

As Mediamax was told in the presidential press service, Robert
Kocharian notes that `Gazprom’ realizes large-scale programs in the
sphere of Armenian energy, and the arrival of `Gazprombank’ will
allow hoping to attract its resource and opportunities.

According to the President, in Armenia the bank will face serious
competition, since the banking system of the country develops with
high speeds, and last year five foreign banks opened their branches
in Armenia.

Robert Kocharian noted that, being quite liberal, the banking
legislation of Armenia at the same time provides for serious control
over the activities of the banks.

Andrey Akimov noted that in Armenia the bank does not expect
momentary results, it intends to carry out serious work, has
far-reaching plans and long-term projects. Chairman of the Board of
the bank assured Robert Kocharian that `Gazprombank’ will become a
`serious, reliable and reasonable partner’ for Armenia.

The delegation of `Gazprombank’ was also received today by the
Armenian Prime Minister Serzh Sarkisian. He noted that the
cooperation with large and authority financial structures is one of
the priority direction of the economic policy of the Armenian
government.