Yerevan /Mediamax/. “Araratbank” may realize an IPO on NASDAQ OMX Armenia and Warsaw Stock Exchange.

Mediamax reports that the Executive Director of “Araratbank” Ashot Osipyan said this today.

He noted that it is yet premature talking about definite dates, since there is a phenomenon, such as the crisis. At that, Ashot Osipyan stated that the bank has decided to continue cooperation with EBRD on implementing international standards in “Araratbank” and only then go back to the topic of IPO. “This does not mean that we do not think about a public offering, but we are in the process of talks, we are assessing the market”, Ashot Osipyan stated.

He informed that implementation of international standards in “Araratbank” will be realized by the National Bank of Canada. According to him, in early July an agreement will be signed, within the framework of which EBRD will allocate 500 thousand euro for elaborating the program, which is meant for 18 months.