Arthur Djavadyan: Armenia and Lebanon gave birth to a new child

06.07.2009 21:11 GMT+04:00

PanARMENIAN.Net

Armenian-Lebanese cooperation led to the birth of a new a new child, whose parents are Anelik Bank and Credit Bank, CBA Chairman Arthur Djavadyan told a news conference.

The transaction, according to him, testifies to the existence of trust in Armenias economic policy and financial system, especially during crisis. As a result of such trust, Lebanese Central Bank gave permission for concluding transaction, Djavadyan said. Bank merging will lead to the birth of a new child whose parents are two well-known brands, he said, expressing hope that the new structure would manage to generate huge income, making all banking services more accessible for Armenias population.

Introducing Credit Bank, Central Banks Chairman said that during the 30 years of its existence, it had the reputation of a developing bank and had a leading role in Lebanons banking system.

Touching upon the activities of Anelik Bank, Djavadyan stressed its role in terms of realizing money transfers and ensuring financial cooperation between Armenia and Diaspora in a period when the country was facing hardships. Besides, he added, it is the only bank which has a subsidiary branch in Russia.

The banking system needs some, if not more, improvement in Armenia for all the innumerale reasons that one can think of for the country to survive. Simply, Armenians and none Armenians, coming from every corner of the world to Armenia, need up to date banking and not the slow, impotent service that exist at Armenia's banks including the local international(?) HSBC bank.