YEREVAN, October 27. /ARKA/. Mellat Bank CJSC, fully owned by Iran’s Mellat Bank, is considering room for opening a branch in Georgia, Mohammad Bigdeli, chairman of Mellat Bank CJSC’s board, told journalists on Wednesday.
It is implied that the Tbilisi branch will operate under the Yerevan Mellat Bank’s management.
Bigdeli said that the matter is under preliminary consideration now. “If the opening of this branch will be found reasonable, we will open it,” he said.
He stressed that there are no particular terms and that the process might take one or more months.
The head of the board also said that the bank is considering reasonability of opening branches also in Armenia.
Iran’s Mellat Bank opened its Mellat Bank subsidiary in Armenia in 1996 in accordance with the agreement signed with the Central Bank of Armenia. Initially the bank operated as Iranian Mellat Bank’s branch, but in September 1997 it was reorganized into a subsidiary with CJSC status.
Its authorized capital, amounting to AMD 32,100 billion, has been ensured by the only shareholder – Iranian Mellat Bank. ($1 – AMD 475.55). –0—-
