YEREVAN, August 4. /ARKA/. Daniel Azatyan, Chairman of the Union of Banks of Armenia, believes the current number of commercial banks in the country is optimal, but theoretically allows for market consolidation.
“The last ten years have shown that all 17 of our banks occupy their unique position. There is no bank for which the question of whether it should exist or not arises,” Azatyan said at a press conference on Tuesday, responding to a question from the ARKA news agency.
At the same time, he noted that, theoretically, four to seven credit institutions could be sufficient to strengthen banks and increase their active participation in Armenia’s international operations.
“Nevertheless, we have what we have,” the head of the Union of Banks of Armenia added.
Responding to a question about possible transactions in the country’s banking market, Azatyan noted that potential major transactions, including mergers, can only be discussed under conditions of strict confidentiality.
YEREVAN, August 4. /ARKA/. Daniel Azatyan, Chairman of the Union of Banks of Armenia, believes the current number of commercial banks in the country is optimal, but theoretically allows for market consolidation.
“The last ten years have shown that all 17 of our banks occupy their unique position. There is no bank for which the question of whether it should exist or not arises,” Azatyan said at a press conference on Tuesday, responding to a question from the ARKA news agency.
At the same time, he noted that, theoretically, four to seven credit institutions could be sufficient to strengthen banks and increase their active participation in Armenia’s international operations.
“Nevertheless, we have what we have,” the head of the Union of Banks of Armenia added.
Responding to a question about possible transactions in the country’s banking market, Azatyan noted that potential major transactions, including mergers, can only be discussed under conditions of strict confidentiality.
