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Expansion Of Armenia's Banking Network Not Completed Yet

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  • Expansion Of Armenia's Banking Network Not Completed Yet

    EXPANSION OF ARMENIA'S BANKING NETWORK NOT COMPLETED YET

    ARKA
    Sep 9, 2011

    YEREVAN, September 9. /ARKA/. Expansion of Armenia's banking network
    is not completed yet, Ashot Osipyan, chairman of the Union of Armenian
    Banks, said Friday at a news conference.

    "Today about 9,500 people work in Armenia's banking system, while
    in late 2010 only 8,700 worked here," he said. "This growth was due
    to the fact that banks have enlarged the number of their branches,
    opened new divisions, such as risk management and marketing divisions."

    Osipyan said this growth would continue. He said that the country's
    banks need skilled specialists. That is why training of specialists
    is among the banking system's top-priority objectives.

    "We find this very important," he said. "Quality, not quantity of
    these specialists is important to us."

    Some 21 banks with their 417 branches operate in Armenia.

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