INTERNATIONAL SEMINAR ON WORLD FINANCIAL MARKETS AND FOREIGN BUSINESS FINANCING EXPERIENCE IS HELD IN YEREVAN
Arminfo
2007-02-19 12:42:00
An International Seminar "World Financial Markets and Foreign Business
Financing Experience" is held in Yerevan and will last till February
20.
As the Executive Director of the First Mortgage Company universal
credit organization David Atanessyan, told ArmInfo, the are the Society
of International Business Fellows (SIBF), Sasakawa Peace Foundation
(Japan), Central Eurasia Leadership Academy and Global Network
Foundation. Attending the seminar will be about 55 representatives of
the financial markets of the UK, the US, Armenia, Georgia, Kazakhstan,
Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. The head of the
Methodology Department of the Central Bank of Armenia David Sargsyan
has made a report about the financial market of Armenia. SIBF
representatives Meade Sutterfield has introduced the Problems of
business financing in the US to the Seminar participants.
A representative of SIBF Marry Madden will report about the competitive
strategy of the Company. SIBF and Cascade Investment company will
present their experience of different countries in developing capital
and securities markets. Representative of HSBC Bank Armenia will tell
how Armenian banks finance companies. IFC, EBRD, ABN AMRO and HSBC
Bank Armenia will present their project in different countries. During
the Seminar, the participants will also discuss a subject concerning
the risk management of initial business-projects.
To remind, Armenia has 21 commercial banks and 17 credit organizations
(1 credit union and 2 leasing companies). In 2006 the capital of
the banking system of Armenia toted $330.3mln, assets – $1.5bln,
credits – $700mln, profit – $47mln. In 2006 the aggregate capital of
17 credit organizations totaled $23.3mln, assets – $56.6mln, credits
– $45mln. According to the Agency of Rating, Marketing Information
(ArmInfo), First Mortgage Company is in the top ten in capital,
assets and crediting and in top five in profit.
From: Baghdasarian