RA Prime Minister Tigran Sargsyan attended today the opening ceremony
for the new building of ArmSwissbank.

2/
Thursday, 17 September 2009

RA Prime Minister Tigran Sargsyan attended today the opening ceremony
for the new building of ArmSwissbank.

Speaking about the Bank’s activities, Tigran Sargsyan indicated that
ArmSwissBank is a dynamically developing entity. He expressed hope that
it will help promote competition in the banking sector.

Concerning the challenges faced by the banking sector, the head of the
Armenian government said that domestic banks should be directed to
sharply increase the level of lending at home.

He similarly noted that the new building will help attract new
customers and expand the scope of services. Appreciative of the Bank’s
mission, Tigran Sargsyan said in particular: `ArmSwissBank came up with
interesting proposals some of which have already been accepted by the
Central bank, such as the building of an investment-friendly legal
framework for commercial banks. The development of securities market
has been central to the policy of economic reform. Here, I would like
to mention the involvement of OMX-Nasdaq in our country.’

In conclusion, the Prime Minister wished the Bank a strong boost in
activities thanks to the new working conditions.

The opening ceremony was attended by NKR Prime Minister Ara Harutunyan