Entry of bank with international brand into financial market of  Armenia always desirable and important - UBA chairman

ArmInfo. The entry of a bank with an international brand into the financial market of Armenia is always desirable and important, Chairman of the Union of Banks of Armenia Daniel Azatyan stated during the final press conference on February 20, speaking about the deal to acquire Bank of Georgia Group PLC (BOGG) of one of the leading Armenian banks Ameriabank CJSC.

"We have a positive attitude towards changes in the banking system.  This will give new energy, new breath. But the final decision will be  made by the Regulator. We, as representatives of the interests of  banks, will refrain from making assessments. And, nevertheless, I  believe that the presence of a bank with an international brand in  our banking system is always desirable and important," he said. 

At the same time, Azatyan recalled that BOGG shares have been listed  and are successfully quoted on the London Stock Exchange (LSE), and  the shareholders are well-known companies in the financial market.

"Even if we leave this fact aside, according to the requirements of  the London Stock Exchange, companies whose shares are listed on the  stock exchange are required to publish all traces. They are as  transparent and open as possible, there is nothing closed and no dark  corners. We should just wait for a decision from professionals and  those responsible in the field," Mr Azatyan said. 

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