Ameriabank plans to expand onto international market

April 10, 2010 – 13:07 AMT 08:07 GMT

PanARMENIAN.Net –

Ameriabank CJSC is resolute to gain competitive strength at the
international market.

`The bank needs to be competitive in all criteria; not only in Armenia
but also at the international level,’ Ameriabank Board Chairman Ruben
Vardanyan stated on April 10, after concluding the deal on purchasing
the whole stock of Cascade Bank CJSC.

According to him, risk management needs to be developed to achieve the
goals set as well as bank personnel’s professional level should be
raised, product line expanded, IT innovation solutions developed and
used, international cooperation deepened.

Ameria CJSC Managing Director Andrey Lazarian added that no
interventions to international markets are planned in the coming two
years `but they are not excluded.’ `The bank is considering
possibility to enter Georgian, Turkish and Russian markets, as a
long-term outlook,’ he said.