Yerevan, July 9 /Mediamax/. Representatives of the Armenian banks and credit organizations on the whole give positive assessment to the prospect of arrival of new foreign players on the banking market of Armenia.

The Director of Development and Administration Department of “Armswissbank” Konstantin Saroyan stated in an interview to Mediamax that “the arrival of new banks, especially the brand ones, will strengthen the competition on the market, and this is profitable for the consumers and the society on the whole”. According to him, with the arrival of new players, the banks expect great problems in the sphere of human resources (HR) management. “The new players need to enlist qualified staff, and there is already a serious struggle for personnel on the market”, Konstantin Saroyan stated.

Chairman of the Board of “Unibank” Vartan Ataian welcomes the arrival of foreign banks on the Armenian market.

“The strengthening of competition will increase the level of banking culture and the quality of the services provided. In future, the competition will lead to the merger of some Armenian banks”, he noted.

“ITB-International Trade Bank” also believes that “the tendency for strengthening the competition on the banking market will continue, and the necessity of enlargement of banks will become obvious”.

“Prometey Bank” believes that the arrival of foreign players will have negative influence on the balance of the banking system of Armenia, “as there is surplus of financial means in commercial banks”.

The universal credit organization “First Mortgage Company” UCO told Mediamax that the arrival of new players will have positive influence on the development of the financial market of Armenia, as it will be accompanied by the growth of investments and the implementation of new technologies.