Zhoghovurd: Armswissbank and Artsakhbank to declare merger

Armswissbank and Artsakhbank will declare a merger soon, Zhoghovurd writes.

Speaking to the newspaper, a representative of Artsakhbank denied the report. The newspaper has learnt, however, that 43.1% of Artsakhbank’s shares and 80% of Armswissbank’s shares belong to the same person, Vartan Sirmakes.

“It is known that it is shareholders that make a decision on banks’ merger. And the presence of the same shareholder in two banks facilitates this process to a great extent,” the newspaper notes.