PanARMENIAN.Net

CBA gives positive assessment to banks’ merger
04.04.2009 16:08 GMT+04:00

/PanARMENIAN.Net/ In financial crisis circumstances, when rules of
game become tougher and only the strongest survive, Armenian Banking
System will probably see the merger of some banks, CBA Chairman Arthur
Javadyan believes. ”A merger of some banks will probably take place
in near future. I consider it a positive process, which will enable
banks to jointly struggle against crisis,” Javadyan said, giving
positive assessment to banks’ merger.

There are 22 banks functioning in Armenia. According to CBA Chairman
supposition, 4 of them will be subjected to merger.