YEREVAN, January 31. / ARKA /. The share of foreign capital in Armenian banks’ assets is 76%, Ashot Osipyan, chairman of the Union of Banks of Armenia, said today summarizing the banks’ 2012 activities at a news conference in Novosti International Press Center.
“This shows that Armenia’s banking system is open and transparent,” he said. “We should try to preserve Armenian banks’ attractiveness to foreign investors also in the future.”
Responding to those fearing that this may jeopardize the banking system’s stability, Osipyan said that there would be the same risks even if local capital dominated the banks’ assets.
“We went through all these risks, and this 76% has appeared not at once – the enlargement of foreign capital in Armenia has been observed for long time,” he said.
Osipyan also added that foreign investments come to Armenia along with new banking technologies and up-to-international-standards corporate management.--0--