Conversebank: world financial crisis to have no direct impact on armenian banking system

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30.09.2008, 03:48

World financial crisis will have no direct impact over Armenia’s banking system, Executive Director of Conversebank Ararat Ghukasyan told journalists in Armavir.

ARMAVIR, September 29. /ARKA/. World financial crisis will have no direct impact over Armenia’s banking system, Executive Director of Conversebank Ararat Ghukasyan told journalists in Armavir.

“Today’s situation in international markets, in the USA, Europe and Russia in particular, will hardly have impact over the banking system of Armenia,” Ghukasyan said. Armenian economy and banking system will not encounter surprises and shocks, he said.

Ghukasyan pointed out that most of the banks operating in Armenia do not use the instruments which led to the financial crisis in the USA and Europe. Yet, Armenia will feel crisis effects much later, he said.

‘’Conversebank’’ Closed Joint Stock Company was registered on December 20 1993. Since February 2007 it has been owned by an Argentinean businessman of Armenian origin Eduardo Ernekian. N.V. –0—

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