YEREVAN, December 27. /ARKA /. The Central Bank of Armenia (CBA) said it had registered December 22 the Komitas branch of Araratbank.
Araratbank, previously called Haykap Bank, was founded in 1991 and provides a full range of banking services to corporate, MSME and retail customers. The bank has established a reputation as a small but reliable and dynamically growing financial institution. EBRD holds 25% in Araratbank. The rest is held by Barsegh Beglarian, head of the biggest petrol importing company Flash.
The CBA said also it had also registered December 27 the Vanadzor branch of the Armenian Development Bank (ADB). The ADB was established in 1990. Until 1996 it was called Reconstruction and Development Bank. -0-
