By the decision dated November 22 of this year the Central Bank of the Republic of Armenia has granted its preliminary approval as to the signing of the Contract of Mergence of “Ardshinbank” CJSC and “Areximbank-Gazprombank Group” CJSC. After execution of this transaction “Areximbank-Gazprombank Group” CJSC will merge with “Ardshinbank”CJSC, as a result of which the operation of “Areximbank-Gazprombank Group” CJSC as a separate legal entity will cease and all of its rights and duties will be transferred to “Ardshinbank” CJSC, as a maintained successor bank. The merged bank will appear on the market under Ardshinbank brand.

At this stage the locations of all the branches of Ardshinbank and Areximbank and the means of communication will remain unchanged and shall be located at ardshinbank.am and areximbank.am internet websites, accordingly.

The customers of Ardshinbank and Areximbank will be served in a regular manner within the contracts signed which may be terminated by observing the procedure and terms as stipulated by the contracts.

As a result of mergence Ardshinbank will become the largest bank in Armenia in terms of bank capital, assets and branch network. The total capital of Ardshinbank CJSC will amount to 74 billion AMD, the assets will make up about 540 billion AMD, and the sale network will consist of 72 universal branches. Mergence of the banks will enable to bring together modern technologies, services and efforts of high-quality specialists and will considerably expand the capabilities of “Ardshinbank” CJSC with regard to providing a wide range of high-quality bank services to their customers both within the corporate and retail business.