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Tigran Sargsyan: Operation Of Armswissbank To Promote Development Of

TIGRAN SARGSYAN: OPERATION OF ARMSWISSBANK TO PROMOTE DEVELOPMENT OF ARMENIA’S SECURITIES MARKET

PanARMENIAN.Net
17.09.2009 18:32 GMT+04:00

/PanARMENIAN.Net/ Armenian prime minister Tigran Sargsyan on September
17 attended the official opening of the new building of Armswissbank,
press service of the government reports.

"Armswissbank has launched several initiatives to reform the banking
legislation that would help expand investment activities of commercial
banks," the prime minister said. According to him, One of the main
focuses of economic reforms is to promote the development of securities
market and use the opportunities of Omx-Nasdaq in Armenia.

Tigran Sargsyan expressed hope that Armswissbank will boost competition
in the banking system, resulting in a sharp increase in lending.

As of September 15, the bank’s total assets amounted to 33.1 billion
AMD, having increased by 41 per cent compared with the last year,
total capital grew by 49 percent compared with the last year, reaching
6.1 billion AMD, the volume of credit investments has increased to
2.7 billion AMD (44 per cent), reaching 8.9 billion AMD.

JSC Armswissbank "was registered on November 22, 2004 with 100% of
the Swiss capital, and on February 25, 2005 received a license to
engage in banking activities.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian: “I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS
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