Dr. Francois S. Bassil, Chairman and General Manager of Byblos Bank Group, said that Byblos Bank Armenia CJSC will start opening branches in the country’s provinces as part of the strategy on its activity expansion.

“It is symbolic that the day of commemoration of 1988 earthquake victims we declare launch of investment programs in Vanadzor, which is among the most suffered areas. Our new branch is expected to be opened in the city early in 2011,” Bassil told a press conference in Yerevan after the third annual meeting of the bank shareholders.

At the same time, Bassil did not exclude a possible merger or purchase of another bank in Armenia. “We have purchased 5 banks in Lebanon. We are already experienced in it,” he said.