IFC TO HELP ARDSHININVESTBANK IMPROVE RISK MANAGEMENT PRACTICES
Noyan Tapan
Oct 19, 2009
YEREVAN, OCTOBER 19, NOYAN TAPAN. The International Finance Corporation
(IFC), a member of the World Bank Group, has signed an advisory
services agreement with Ardshininvestbank (Armenia) to help improve
the bank’s risk management practices and increase lending to small
businesses.
The agreement is part of IFC’s broader regional crisis-response
initiative aimed at strengthening the banking sector to make it
more sustainable.
Ardshininvestbank is among the top three banks in Armenia and has an
extensive branch network. In conditions of the financial crisis, IFC is
helping the bank enhance its capacity to deal with nonperforming loans,
mitigate risks, and strengthen its lending to local entrepreneurs
and small and medium enterprises to stimulate economic development
and job creation.
"We value very much the cooperation with IFC and are confident that
our clients will notice the impact of advisory services rendered by
IFC experts in the near future," Karen Balasanian, Deputy Chairman
of Ardshininvestbank’s Management Board said.