Yerevan /Mediamax/. “Cascade Capital Holdings” announces it has completed the internal merger of “Cascade Bank” and “Cascade Credit” UCO.

Mediamax was informed in Marketing Department of “Cascade Bank” that as a result, the merged entity will trade as Cascade Bank.

According to Cascade Capital Holdings’ CEO Jonathan Stark, combination of banking and lending functions of the two companies under the same roof will favor enhancement of Cascade Bank’s positions at the banking market, and expand the scopes of services offered by the Bank.

“Integration, achieved with the agreement of our partners including EBRD, World Bank and the Central Bank of Armenia, allows for greater internal efficiency while strengthening our core customer service ethic”, Jonathan Stark stressed.

According to Cascade Bank Chief Executive Officer Aharon Levonyan, the consolidation will ensure considerable increase of the Bank assets, liabilities, loan portfolio and improvement of other financial ratios of “Cascade Bank”.