The past year was marked by serious bank enlargement processes in Armenia,the paper says, citing the Central Bank’s recent decision to increase banks’ normative capital from five to 30 billion Armenian Drams (AMD 479=USD 1).
Several banks with a small capital believe already merged, and as did Procredit with Inecobank,BTA with ArmeconomBank and the Armenian Development Bank with AraratBank. Recent reports reveal that banks’ capital increased due to mergers, securing a higher profit in the third quarter of 2016.
Source: tert.am