EMIL SOGHOMONYAN: CBA, COMMERCIAL BANKS COORDINATING ACTIVITIES

PanARMENIAN.Net
May 19, 2010

The Central Bank of Armenia and commercial banks are coordinating
activities.

"It’s corrects, as it’s the demand of the market," Prometey Bank
board chairman Emil Soghomonyan told a PanARMENIAN.Net reporter. "The
Central Bank took up an expedient monetary policy, while the banks
grant loans with affordable interest rates."

"Armenian banks are highly marketable and it’s natural that interest
rates move downward, so that the banks can distribute capital.

Interest rates will fall till the end of the year, making 12-13%,"
he said.