Yerevan, October 12 /Mediamax/. According to the decision of the “Ararat-Bank” CSC Board, Ashot Osipian is appointed Acting Executive Director of the bank.

Mediamax was told this in the Strategy and Methodology Department of the “Ararat-Bank” today.

From 1999 to June 2006, Ashot Osipian occupied the positions of the Chairman of Board and the CEO of “Armeconombank”.

“Ararat-Bank” was established in 1991 by the name of “Armsvyazbank” by legal entities, working in the sphere of communications. In October 2004, the shares of the bank were purchased by one of the largest oil-traders of Armenia 0 the “Flash” Company. In September 2005, the bank was renamed “Ararat-Bank”.