 Consolidation in Armenia’ banking sector is natural process March 31, 2010 - 18:54 AMT PanARMENIAN.Net - Consolidation of the Armenian banking sector is a natural process, Cascade Bank executive director Aharon Levonyan said. "Against a 3 billion market of total banking assets 22 banks mean a tightened competition, preventing its development," he told a joint news conference in Yerevan. According to Artak Hanesyan , Ameriabank chairman of directorate and director general, this merger could serve a good example for other financial institutions. The merger is a good opportunity to address growth issues within 2-3 months instead of projected 1-1.5 year, he said.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Armenia considers Cyprus as one of its main partners in EU - envoy  Armenia considers Cyprus one of its main partners in the European Union, Ambassador Tigran Mkrtchyan has said.Armenian, Albanian Foreign Ministers discuss ties, regional issues Armenian Foreign Minister Ararat Mirzoyan had a meeting with the Minister of Foreign Affairs of Albania Igli Hasani.POLITICO: Baku lobbying agains detained Karabakh ex-leader abroad Azerbaijan is lobbying agains former Nagorno-Karabakh leader Ruben Vardanyan, according to POLITICO.Armenia confirms will attend NATO summit in Washington Armenia has confirmed its participation in the NATO summit in Washington, a spokesperson has confirmed. |
