VTB Bank (Armenia) and Central Bank trying to settle Armavia financial imbroglio smoothly
10.04.2013,
18:17
VTB Bank (Armenia) along with its shareholder, the Central Bank of Armenia and the owner of Armavia, who owes $22 million to VTB Bank (Armenia), is trying to solve this air company’s problems as painlessly as possible, Yuri Gusev, CEO and chairman of the bank’s directorial board, said today answering ARKA News Agency’s question.
YEREVAN, April 10. /ARKA/. VTB Bank (Armenia) along with its shareholder, the Central Bank of Armenia and the owner of Armavia, who owes $22 million to VTB Bank (Armenia), is trying to solve this air company’s problems as painlessly as possible, Yuri Gusev, CEO and chairman of the bank’s directorial board, said today answering ARKA News Agency’s question.
“Taking into account the size Armavia and the group of companies as a whole and their contribution to the country’s economy, we should pursue a maximally accurate policy,” he said. “Particular measures, prepared by the central bank jointly with Armenia’s authorities, will make it possible to minimize either the owner’s or the banking system’s losses.”
Gusev welcomed Armavia owner, Mikhail Bagdasarov’s conduct saying he doesn’t avoid contacts with the bank.
“We communicate with one another every day and are trying to find an acceptable solution,” he said. “A road-map for this process is already drawn, and we agree to it, and I think we, together with the country’s banking system, will try to solve this problem. At least now, it seems a solution will be found.”
Armavia, Armenia’s national air carrier stopped operating flights on April1 and launched its bankruptcy procedure. -0-
