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VTB bank (Armenia) not considering merger or other deal

YEREVAN, September 30. /ARKA/. VTB Bank (Armenia), a 100% subsidiary of Russian VTB Bank,  is not considering any merger or acquisition deal in Armenia now,  VTB24 Board Chairman Mikhail Zadornov told a news conference today in Yerevan, adding: “Never say never.”

Currently, there are 20 commercial banks operating in Armenia. In 2015 Inecobank acquired the 100% stake in German ProCredit Bank.

On August 24, 2016 the Central Bank registered the deed of transfer, and approved the updated charter of Armeconombank, according to which BTA Bank terminated its activities while Armeconombank becomes its legal successor. -0-

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Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

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