Yerevan, June 15 /Mediamax/. Chairman of the Central Bank of Armenia Tigran Sarkisian believes that the year of 2006 was successful for “Armeconombank”.

Mediamax reports that, speaking during the annual meeting of the share-holders of “Armeconombank”, Tigran Sarkisian informed that almost as to all the indices, the bank managed to secure 26-27% growth on average.

According to the CB Chairman, the growth indices of “Armeconombank” are stable, which is evidenced by the results of the activity of the bank for the first 6 months of 2007.

Among the most important events, which took place in “Armeconombank” in 2006, according to Tigran Sarkisian, is the fact that the bank received Moody’s ratings.

CB Chairman stated the importance of the agreements, concluded by the bank with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).

According to Tigran Sarkisian, the achievements of “Armeconombank” are basically conditioned by professional management, which is a deposit of successful activities of the bank in the conditions of growing competition.

CB Chairman noted that in the nearest few years the competition in the banking sector of Armenia will considerable increase - applications from 5 foreign banks, which intend to start business in Armenia, were received this year only.