CENTRAL BANK OF ARMENIA INVALIDATES LICENSE OF CASCADE-CREDIT UNIVERSAL CREDIT ORGANIZATION

/ARKA/
July 31
YEREVAN

YEREVAN, July 31. /ARKA/. The Central Bank of Armenia (CBA) invalidated
the license of Cascade-Credit Universal Credit Organization CJSC.

The CBA Press Service reported that the activities were ceased due
to re-organization of the credit organization.

According to the Central Bank, there were 26 credit organizations
and 51 branches operating in Armenia as of the end of June 2009.