Thursday, 9 December 2010
Vahram Nercissiants appointed to be Pan-Armenian Bank Executive Director
A service contract on appointment of Vahram Nercissiants as Executive Director of the Pan-Armenian Bank was signed today in the Office of Government
Signatories to the contract were Pan-Armenian Bank Board chairman, Prime Minister Tigran Sargsyan and chief presidential adviser on economic affairs Vahram Nercissiants.
Vahram Nercissiants commented on the goals and objectives of the Bank during the press conference that followed the signing ceremony. The Pan-Armenian Bank was said to be a strategic investment tool rather than a mere trade bank to service such export-import-oriented entities as may enhance Armenia’s competitiveness on the global marketplace. In future, the Bank is scheduled to provide lending and investments in the Diaspora, too.
The Bank was said to have USD 100mn worth of statutory capital, of which 20 million available from the State, and a gap to be covered by international financial institutions and private sources.
Information technologies, healthcare, education and tourism were cited as priority areas for the Bank’s activities.
