Armeconombank has today issued the following statement:

“Armeconombank followed up the financial and legal audit at BTA Bank (Armenia).

Heads of Armeconombank and BTA Bank (Kazakhstan) have signed a memorandum of understanding on the merger of Armeconombank and BTA Bank (Armenia).

The signed memorandum will allow the parties to embark on the merger - convene shareholders’ meetings and receive all the permissions needed for the process from the Central Bank”.