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CBA CHAIRMAN: THERE IS QUITE HIGH COMPETITION IN THE BANKING SYSTEM
OF ARMENIA
YEREVAN, August 22. /ARKA/. There is quite high competition in the
banking system of Armenia, as CBA Chairman Tigran Sargsyan stated at
the BTA Investbank presenting ceremony. In his words, new bank's
entering Armenia and having quite serious ambitions testifies to even
higher competition in this sector. "It's very important that the
rules adopted in the banking sector of Armenia proof to be stable,
and the new bank could organize in new conditions profitable
business", he said. He emphasized that in any case strivings of CBA
to canonize banking relations has exactly this goal. "We welcome
toughening of competition, since clients will profit from it", he
said assuring the Kazakh colleagues that strivings of CBA are to
create equal conditions for all banks in Armenia.
In May 2005 one of the largest banks of Kazakhstan - TuranAlem Bank
purchased 48,9% of shares of International Investment Bank CJSC,
lately renamed into BTA Investbank. The rest shareholders of the bank
are ZRL Austrian company (with 31,1% stock) and Kazakhstan -Armenian
MOBILEX company (20%). Currently 21 banks operate in Armenia. A.H.
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OF ARMENIA
YEREVAN, August 22. /ARKA/. There is quite high competition in the
banking system of Armenia, as CBA Chairman Tigran Sargsyan stated at
the BTA Investbank presenting ceremony. In his words, new bank's
entering Armenia and having quite serious ambitions testifies to even
higher competition in this sector. "It's very important that the
rules adopted in the banking sector of Armenia proof to be stable,
and the new bank could organize in new conditions profitable
business", he said. He emphasized that in any case strivings of CBA
to canonize banking relations has exactly this goal. "We welcome
toughening of competition, since clients will profit from it", he
said assuring the Kazakh colleagues that strivings of CBA are to
create equal conditions for all banks in Armenia.
In May 2005 one of the largest banks of Kazakhstan - TuranAlem Bank
purchased 48,9% of shares of International Investment Bank CJSC,
lately renamed into BTA Investbank. The rest shareholders of the bank
are ZRL Austrian company (with 31,1% stock) and Kazakhstan -Armenian
MOBILEX company (20%). Currently 21 banks operate in Armenia. A.H.
-0--