Yerevan /Mediamax/. Certain Armenian banks plan to realize mergers and the Central Bank welcomed those intentions##, CB Chairman Artur Javadyan stated.

Mediamax reports that Artur Javadyan said on November 6 that the mergers will make the banks stronger. At that, the CB Chairman did not name the banks, which plan mergers, noting that concrete information will become available in the nearest future.

According to the CB Chairman, mergers are also possible in the case with “PostBank” and the Lebanese Sedrus Bank, which plan to enter the banking market of Armenia in 2009.

“PostBank’s business plan is presented to us, we know that it intends to open 550 branches in the territory of Armenia and provide combined postal and banking services. The initial capital of the bank will make 5.5bln AMD”, Artur Javadyan stated.

According to him, the leadership of “PostBank”, the main shareholder of which is Argentinean entrepreneur Eduardo Ernekian, considers the possibility of a further merger with one of Armenian banks.

“Lebanese Sedrus Bank, which already holds negotiations with local banks, also has similar intentions”, Artur Javadyan stated, noting that the authorized capital stock of the new bank will make 5.45bln AMD.