March 4, 2010 - 15:35 AMT
Armenia needs to consolidate its banking industry

Ameriabank accepts 2.5 per cent rate for "non-performing" loans in 2010, ArtakHanesyan chairman of Directorate, Director General of Ameriabank told a joint news conference in Yerevan, in connection with the contract between Ameriabank and EBRD. According to Artak Hanesyan, to date the level of "non-performing" loans in Ameriabank has not exceeded 0.6 per cent and for 2010 Ameriabank accepts 2.5 per cent rate for "non-performing" loans.

According to EBRD Financial Institutions Managing Director Mike Taylor , there is a need to consolidate the banking industry in Armenia.

On March 4, 2010 Ameriabank and the European Bank for Reconstruction and Development signed a contract in the frames of MCFF in Yerevan. Co-financing contract was signed by the chairman of Directorate, Director General of Ameriabank Artak Hanesyan and DEBRD Financial Institutions Managing Director Mike Taylor.