Consolidation in Armenia’ banking sector is natural processMarch 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 | Putin to meet Erdogan, Aliyev on SCO sidelines Putin will hold meetings with Turkish President Recep Tayyip Erdogan and Azerbaijani President Ilham Aliyev. Armenian, Georgian Foreign Ministers meet in Tbilisi The meeting of Ararat Mirzoyan and Ilia Darchiashvili, is underway in Tbilisi, the Armenian Foreign Ministry reveals. CSI urges IOC to ban Azerbaijan from Paris 2024 The organization said in a statement that there is no place for genocide at the Olympics. Bipartisan U.S. Congressional delegation arrives in Armenia Senator Wicker is also the ranking member of the U.S. Senate Armed Services Committee. |