Yerevan /Mediamax/. “Araratbank” acquired 100% shares of “Izmirlian-Eurasia” Universal Credit Organization.

As the Chairman of the bank’s Board of Directors Ashot Osipyan informed at a news conference today, thus, the bank intends to consolidate its positions in the financial market of Armenia.

The sum of the deal made about $6mln.

Answering the question on the prospects for “Araratbank” to merge with another bank, Ashot Osipyan noted that “our goal was the consolidation of the bank, which we implemented”. He also noted that “Araratbank” possesses sufficient means to acquire a certain bank however “we have not found an appropriate bank yet”.

Ashot Osipyan informed that by the end of the year “Araratbank” intends to reduce the interest rates for crediting small and medium enterprises on average by 2%. At present, the bank’s interest rates for crediting enterprises in AMD make 14-18%.