Armenian Savings Bank’s Prospects Unclear

YEREVAN (Noyan Tapan)–The prospects of the Armenian Savings Bank will be clear after an audit–the Bank’s Deputy Executive Director Arzik Suvarian said to Noyan Tapan. The results of the audit will be considered in determining the program of privatization. If the share sold is divided–the government may still retain control. It will make it possible to maintain 36 affiliates and 90 operational offices of the Bank as well as the population servicing function discharged through their agency–which is considered by the Bank to be a priority. The Armenian Savings Bank has half a million accounts of both legal entities and physical persons.

The KPMG company–which audits the Bank–is to make proposals regarding investmen’s by the end of the year under an agreement concluded with the Armenian government.

Suvarian also spoke about the fate of the deposits made by citizens still during the Soviet times. In particular–he said that this problem could not be solved within a few days.

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