Armenian antimonopoly body permits Ameriabank and Cascade Bank concentration

April 9, 2010 – 13:09 AMT 08:09 GMT
PanARMENIAN.Net –

The State Commission for the Protection of Economic Competition of the
Republic of Armenia (SCPEC) permitted Ameriabank’s shareholder, TDA
Holding Limited company to conclude a deal on purchasing the Cascade
Bank, Commission’s Press Service reported.

The decision was made on the basis of interested sides’ claim on
centralizing the two financial structures. SCPEC permitted
concentration the two banks due to the lack of facts prohibiting the
deal.