Yerevan/Mediamax/. The Central Bank (CB) and the Government of Armenia make no statements regarding the creation of All-Armenian Bank, which was announced to be set up in spring 2011.

The All-Armenian Bank was first announced to be established in June 2008. Presenting the conception of the bank then, CB Chairman Artur Javadian said that the main goal of the bank will be the financing of projects within the framework of the National Competitiveness Foundation of Armenia. He noted that the All-Armenian Bank will be guided by commercial principles of activity, but will not make competition for Armenian commercial financial institutions.

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