EBRD: ARMENIAN BANKING SECTOR NEEDS CONSOLIDATION
ArmInfo
05.03.2010
ArmInfo. The Armenian banking sector needs certain consolidation,
EBRD Director for Financial Institutions in Middle Asia, Caucasus
and Mongolia Mike Taylor said in Yerevan on Thursday.
The European Bank believes that existence of too many small banks in
the market necessitates consolidation, he said. For his part, Artak
Hanesyan, Ameriabank Directorate Chairman- Director General, said that
transactions on amalgamation or unification are possible in future.
"We are constantly surveying the banking sector of Armenia and
possibilities of cooperation with other banks," he said.