Manuk Vardanyan: first Post Bank to be opened in Armenia until end of 2010

PanARMENIAN.Net - Armenian Minister of Transport and Communication Manuk Vardanyan said that Haypost CJSC, which is managed by Dutch Haypost Trust Management B.V., submitted a program for 2010-2011 to be considered by the Ministry.

In addition to the program on trust management, the company should have subprograms, mentioning conceptual problems, including on establishment of Bank Post or Post Bank, Vardanyan told journalists in Yerevan on June 28. “I strongly believe that we should have Post Bank, as the provision of postal services has a social importance for residents of remote regions of the republic, while bank services will be provided simultaneously,” he said.

Currently, negotiations are held with the Central Bank of Armenia (CBA), as it should issue a license for the implementation of similar activity, the Minister told a PanARMENIAN.Net reporter.

Vardanyan added that the first Post Bank will be opened in Armenia until the end of 2010, as per program submitted by Haypost.

Haypost CJSC, the national post operator of Armenia, has 900 branches on Armenia's territory.

The establishment of specialized Post Bank in Armenia is implemented as part of modernization of Armenia’s postal sector, for which $12mln are envisaged to be invested until 2012.