AMERIABANK DEVELOPING SPECIAL PRODUCTS FOR FOREIGN CLIENTS OF CASCADE BANK

ArmInfo
23.04.2010

ArmInfo. Ameriabank is developing special products for foreign clients
of Cascade Bank. As Ameriabank Development Director Tigran Jrbashyan
said responding to ArmInfo’s question, the clientele of Cascade Bank,
with the USA as part of it, is one of the advantages of the bank with
which Ameriabank is carrying out the unification procedure.

"We intend to take active part in markets of the USA and the West in
general, in view of which we shall implement new products during the
next 1-2 months. We have already held meetings with big clients and
discussed cooperation terms", he emphasized. Along with it, Jrbashyan
said Ameriabank is going to extend its branch network and develop
card business.

To note, Ameriabank currently has four branches: in Yerevan,
Stepanakert, Kajaran and Dilijan. As of January 1, 2010, Cascade Bank
had two branches (in Yerevan).

To recall, on March 31, 2010, shareholders of Ameriabank and Cascade
Bank signed an agreement on merger of these two structures, after
which the transaction was approved by Armenian Central Bank on April
7. The bank merger will be over till November 2010, and the united
bank will function in the market under Ameriabank brand by adoption
of the Parties.