Thursday, October 20 2011 20:37

Ameriabank to announce about its new consolidation in the first half of 2012


Arminfo. Ameriabank is going to announce about its new consolidation with one of the commercial banks of Armenia in the half- year of 2012, representative of Ameriabank, Tigran Jrbashyan, said at today's press-conference, when replying to Arminfo correspondent's question.

"Moreover, we have been negotiating with one of the banks on consolidation. I mean a serious deal and we hope to announce about it over the half-year. Such bargains are very much complicated. They depend on numerous factors and possible leak of information may lead to their disrupt", - he said.

To remind, the process of merger of Cascade Bank and Ameriabank was over in mid 2010. The merged bank is operating in the market under the brand of Ameriabank.

At the same time, Jrbashyan pointed out that the process of consolidation will continue in the Armenian banking system. "The consolidation is needed to enhance the efficiency in the banking system of the country. As compared to industry and services, for instance, the profitability in the banking system is less effective", he said. Jrbashyan thinks that the main tools to enhance the efficiency are introduction of technologies, diversification of services, as well as inorganic growth. The synergy effect results in considerable growth of assets, credit portfolio, deposits.
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