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Armenian Cascade Bank To Attract Deposits In Branches

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  • Armenian Cascade Bank To Attract Deposits In Branches

    ARMENIAN CASCADE BANK TO ATTRACT DEPOSITS IN BRANCHES

    ARKA
    Dec 1, 2008

    YEREVAN, December 1. /ARKA/. Armenian Cascade Bank intends to attract
    deposits in its branches, the bank's press-service told ARKA News
    Agency.

    It increases the current interest rates for all attracted deposits
    by 0.5% until December 31.

    The maximum interest rate of the bank's deposits is 11% annually.

    Currently Cascade Bank has Yervand Kochar branch opened this November
    6. The second Komitas branch will open tomorrow, December 3.

    Cascade Bank was established on May 26, 2005, when Cascade Capital
    Holdings became the sole owner of Emporiki Bank (Armenia) CJSC. By
    September 30, the bank's total capital had reached 5.1bln AMD, assets
    14.2bln AMD, liabilities 9.1bln AMD.

    The bank's fixed deposits reached 699.5mln AMD this September 30.
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