YEREVAN, October 20. \/ARKA\/. Ameriabank intends announce merger deal with one of Armenia\u2019s banks in the first half of the next year, Ameriabank Development Director Tigran Jrbashyan said Thursday at a news conference.<\/p>\n
In 2010, Ameriabak merged with Cascade Bank. The two banks\u2019 shareholders TDA Holdings Limited and Cascade Capital Holdings said the banks had merged to support Armenia\u2019s financial sector and to lay sustainable financial platform for the country\u2019s post-crisis development.<\/p>\n
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.<\/p>\n
He said the merger would enhance effectiveness of Armenia\u2019s banking sector.
\nThe development director said that banking sector\u2019s effectiveness is lower than that of other segments of the economy.<\/p>\n
\u201cIf we compare the banking system\u2019s profitability with that of other areas, such as industry and services, we\u2019ll see that the banking sector is less active,\u201d he said.<\/p>\n
The Ameriabank CJSC is an investment corporate bank providing investment, corporate and limited retail banking services in a package.<\/p>\n
Ruben Vardanyan is the chairman of the bank\u2019s directorial board and Artak Hanesyan is the director general.<\/p>\n
Ameriabank\u2019s strategic partner is Troika Dialogue, one of Russia\u2019s leading investment companies.-0—<\/p>\n","protected":false},"excerpt":{"rendered":"
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