YEREVAN, FEBRUARY 5, NOYAN TAPAN. The Chairan of the Central Bank of Arenia (CBA) Tigran Sargsian considered the entry of Credit Agricole Bank (France) into the Armenian market through acqusition of ACBA Bank's share as the most remarkable event of 2006. During the February 5 press conference, T. Sargsian said that "this step of ACBA Bank prompted other Armenian commercal banks to take steps aimed at attracting institutonal investors." Accordng to him, a number of Armenian banks are now conducting negotatons in this direction with the International Financial Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). Two German fianancial bodies are expected to enter the Armenian market of banking services. In T. Sargsian's opinion, the interest shown by foreign banks to this market was conducive to a sharp increase of crediting in the country by the Armenian branch of HSCB Bank (Great Britain). He added that in 2007, HSBC Armenia will open several branches.

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