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Armenia’s Central Bank halts operation of Cascade Bank branch

YEREVAN, June 9, /ARKA/. Armenia’s Central Bank governor, Artur Javadian, has passed a decision to halt the operation of a Cascade Bank branch Yervand Kochar, the Central Bank’s press office said. Cascade Bank was founded in 2005 after Cascade Capital Holdings acquired 100 percent shares of Emporiki Bank (Armenia).

On March 31 Cascade Capital Holdings and TDA Holdings Ltd, the shareholders of Cascade Bank and Ameriabank signed a merger agreement. On March 31 Cascade Bank’s assets stood at 18 billion Drams, liabilities at 10.4 billion Drams, total capital was 7.7 billion Drams, credit investments-10.5 billion Drams. In the first quarter it earned 120.8 million Drams in net profits. ($1-377.29 Drams.) -0-

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Insurance market of Armenia is in embryonic state

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Central Bank invalidated banking license of Ardshininvestbank due to its merger with Ardshinbank

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Average annual exchange rate of Armenian dram to US dollar  projected at 402 drams in 2025 – EDB

The value of the Armenian dram will decrease slightly in 2025, and its average annual exchange rate to the US dollar is projected at 402 drams in 2025, according to the Eurasian Development Bank’s (EDB)   macroeconomic forecast for 2025-2027.

Unibank’s “Haghtanak” branch serves clients from 9:30 am to 7:30 pm

Unibank branch “Haghtanak” has switched to a new operating mode - extended hours. Now clients can receive a full range of banking services from Monday to Friday - from 9:30 am to 7:30 pm.The branch is located at N94, 62 Komitas, Yerevan. 

Acba Bank donates amd 130 million to Military Insurance Fund (video)

Acba bank and other members of the financial group - ACBA Leasing and Amundi-ACBA - have donated more than AMD 130 million to Armenia's Military Insurance Fund in recent months, the press service of the bank reported

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