RUSSIA’S FIRST APPEARANCE IN ARMENIA’S BANK SYSTEM

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Armenian Prime Minister Andranik Margaryan met Wednesday with head of Russian Wneshtorgbank Andrey Kostin who is now in Armenia to sign an agreement on acquisition of Haykhnaybank’s controlling interest.

Kostin expressed hope that the first appearance of a Russian bank at Armenian market will promote growth of Armenia’s population confidence in banks as it is already seen in Russia.

Margaryan, in turn, said Armenian government intends to keep on supporting the Russian bank’s efforts directed to development of Armenia’s financial system, which will strengthen economic and trade ties with Russia.