RA Central Bank ready to facilitate consolidation of banks

PanARMENIAN.Net - p> Chairman of the Armenian Central Bank Arthur Javadyan said that the CBA is willing to facilitate the process of consolidation of banks.

“We are ready to provide a credit line, and we have established maximum amounts – 30% of the consolidated capital with a three-year term,” Mr. Javadyan said after completion of the deal on purchase of 100% of Cascade Bank shares by Cypriot TDA Holding Limited (the owner of 99,99% shares of Ameriabank CJSC.)

Hailing the process of the country's banking system consolidation, the CB Chairman refrained from making prognosis with respect to the optimal number of banks. “To date, we have 21 banks, if their number reaches 15-17, nothing will change in our banking system,” he said, adding that none of Armenian banks experiences serious problems.