Supervision and corporate management of Armenian banking system best in region
10.06.2008,
01:31
Armenian banking system, as far as the supervision and corporate management level is concerned, is considerably ahead of the other countries of the region, Board Chairman of Armenian Armeconombank David Sukiassyan told reporters.
YEREVAN, June 9. /ARKA/. Armenian banking system, as far as the supervision and corporate management level is concerned, is considerably ahead of the other countries of the region, Board Chairman of Armenian Armeconombank David Sukiassyan told reporters.
“Armenian banks, though with smaller assets, have the best financial showings, the highest level of supervision and corporate management in the region,” Sukiasyan said.
Sukiasyan hailed the idea of creating a regional financial centre in Armenia. He said creating a regional centre in any sphere – health, social, financial or banking sectors - is a good idea, since it will attract various financial structures to the country and raise the interest in Armenia.
Twenty-two commercial banks are currently operating in Armenia with the total assets, according to the March 31, 2008 data, calculated at 818.9bln drams, and the total credit portfolio (including the funds lent out to customers) estimated at 485.2bln drams. -0-
“Armenian banks, though with smaller assets, have the best financial showings, the highest level of supervision and corporate management in the region,” Sukiasyan said.
Sukiasyan hailed the idea of creating a regional financial centre in Armenia. He said creating a regional centre in any sphere – health, social, financial or banking sectors - is a good idea, since it will attract various financial structures to the country and raise the interest in Armenia.
Twenty-two commercial banks are currently operating in Armenia with the total assets, according to the March 31, 2008 data, calculated at 818.9bln drams, and the total credit portfolio (including the funds lent out to customers) estimated at 485.2bln drams. -0-
