Wednesday, May 29 2013 21:08

CEO of Anelik Bank elected Chairman of Union of Banks of Armenia


ArmInfo. CEO of Anelik Bank Samvel Chzmachyan has been elected Chairman of the Union of Banks of Armenia.

The press service of Anelik Bank reports that Chzmachyan already chaired the Union in 2003-2006.

"I would like to thank for your confidence and the honor to chair the Union of Banks of Armenia once again at such a crucial period. Banking is one of the most efficient and competitive sectors of our economy, and we must do our best to ensure its stability," Chzmachyan said.

Chzmachyan has managed Anelik Bank for already 20 years. In the 1980s he was a manager in the Armenian branch of the State Bank of the USSR. In 1990 he was appointed as the head of the Armenian branch of Vneshtorgbank. In 1994-1995 he managed the Moscow-based Glombank.

The Union of Banks of Armenia was established in 1995. Initially it comprised 31 banks. Today it has 21 members. Chzmachyan's predecessor was CEO of Araratbank Ashot Osipyan.
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