OREANDA-NEWS. June 26, 2013. A relevant agreement was executed between Ashot Osipyan, Chairman of the Executive Board of ARARATBANK and Valeriu Razlog, the Head of the EBRD Resident Office in Yerevan at the Annual General Meeting of Shareholders.

The Bank joined the group of global confirming banks, such as Commerzbank, Raiffeisen Bank, Deutsche Bank, thereby acquiring international importance.

According to Ashot Osipyan, ARARATBANK issued USD 7.8 million letters of credit as an issuing bank, as well as concluded short-term revolving credit agreements of USD 10 million in 2012.

Valeriu Razlog mentioned that it is a new development for the Bank, since the status of a confirming bank evidences international recognition of the Bank and growing trust towards the Bank. The Head of the EBRD Resident Office in Yerevan pointed out as well that all 7 credit projects were concluded and implemented successfully during their mutual cooperation.

“Out trust towards ARARATBANK is growing day by day and gives rise to new initiatives. It is due of mention that the Bank has a great experience in quality management. Participation of some employees in our trainings enabled them to take leading positions as compared to other countries. We are really impressed by the activity results of the Bank and hope that such development trends will be maintained in the future,” said Valeriu Razlog.