YEREVAN, February 20. /ARKA/. The arrival of international banks in Armenia is desirable and important, Chairman of the Union of Banks of Armenia (UBA) Daniel Azatyan said at the request of ARKA news agency in a comment on the latest bank acquisition deals.
On February 6, Ardshinbank announced an agreement with HSBC Europe B.V, a subsidiary of HSBC Holdings plc, to acquire its subsidiary HSBC Bank Armenia.
On February 19, Ameriabank said it reached an agreement with Bank of Georgia Group (BOGG), a UK registered financial group,, to join the Bank as a standalone entity.
“These are important developments for the Armenian banking sector. We are positive about the changes in the banking sector as they bring a new breath, impetus and energy,” Azatyan told a press conference on Tuesday.
He refrained from assessments on the deals, emphasizing that they still have to be approved by the Central Bank of Armenia.
Asked by ARKA news agency whether the deal on acquisition of HSBC Bank Armenia by Ardshinbank is not a signal that Armenia is not interested in the presence of systemic international banks in the country any longer, Azatyan said that HSBC group has been redistributing capital centers in recent years.
“Starting in 2021, HSBC has withdrawn from France, the US, Greece, and before that also from the CIS,” he said.
As for Ameriabank’s deal with BOGG, Azatyan said that the Bank of Georgia Group is an international financial company listed on the London Stock Exchange and among the group’s shareholders are the world’s largest financial organizations. -0-
