RA Central Bank ready to facilitate consolidation of banks

April 10, 2010 – 14:36 AMT 09:36 GMT
PanARMENIAN.Net

Chairman of the Armenian Central Bank Arthur Javadyan said that the
CBA is willing to facilitate the process of consolidation of banks.

`We are ready to provide a credit line, and we have established
maximum amounts – 30% of the consolidated capital with a three-year
term,’ Mr. Javadyan said after completion of the deal on purchase of
100% of Cascade Bank shares by Cypriot TDA Holding Limited (the owner
of 99,99% shares of Ameriabank CJSC.)

Hailing the process of the country’s banking system consolidation, the
CB Chairman refrained from making prognosis with respect to the
optimal number of banks. `To date, we have 21 banks, if their number
reaches 15-17, nothing will change in our banking system,’ he said,
adding that none of Armenian banks experiences serious problems.