BIG CENTRALIZATION OF PROPERTY OBSERVED IN ARMENIAN BANKS
Panorama.am
14:36 23/05/06
Big centralization of property is observed in the Armenian banks. The
number of property owners in 2 out of 15 banks is above 20. The
number of shareholders in one of the banks reaches 1000, expert on
corporative management of International Financial Corporation (IFC)
Panos Labrapolus told a seminar today, speaking about a study conducted
by IFC in April-May, 2006 among 15 banks of Armenia.
In the words of P. Labrapolus, in only 6 banks of Armenia the
minimal share of shareholders does not reach even 2% of the total
capital. The controlling packet of interests in most Armenian banks
belongs to one or several persons. The research says that only two
intend to take their shares to the stock exchange and transform
into open share holdings. 12 banks prefer to enlarge their scope of
activity, attracting financial means of shareholders or international
organizations and not use the financial flows of deposits. Indicating
the need to improve the corporative management, P. Labropolus suggested
using as many means of depositors as possible. According to the study,
most local banks think that corporative management is on low level
in Armenia and only 26% think that it is quite developed.
In the words of P. Labrapolus, the results of the research will
enable the organization to specify those areas of their activity that
need change.