YEREVAN, October 20. /ARKA/. Ameriabank intends announce merger deal with one of Armenia’s banks in the first half of the next year, Ameriabank Development Director Tigran Jrbashyan said Thursday at a news conference.
In 2010, Ameriabak merged with Cascade Bank. The two banks’ shareholders TDA Holdings Limited and Cascade Capital Holdings said the banks had merged to support Armenia’s financial sector and to lay sustainable financial platform for the country’s post-crisis development.
Jrbashyan refrained from revealing details of the deal calling it very important and saying that any leakage of information could affect and even derail the process.
He said the merger would enhance effectiveness of Armenia’s banking sector.
The development director said that banking sector’s effectiveness is lower than that of other segments of the economy.
“If we compare the banking system’s profitability with that of other areas, such as industry and services, we’ll see that the banking sector is less active,” he said.
The Ameriabank CJSC is an investment corporate bank providing investment, corporate and limited retail banking services in a package.
Ruben Vardanyan is the chairman of the bank’s directorial board and Artak Hanesyan is the director general.
Ameriabank’s strategic partner is Troika Dialogue, one of Russia’s leading investment companies.-0—
