ARDSHINBANK DISMISSES REPORTS ON BANKRUPTCY00:00, 15 February, 2002
YEREVAN, FEBRUARY 15, ARMENPRESS:The governor of Ardshinbank Levon Farmanian dismissed on Thursday rumors that the bank has appeared on the verge of bankruptcy. He said the bank had enough resources to overcome any damages. "Though we liquidated three branches last year this does not mean that we are facing problems. The move was taken to optimize our work," he said. The bank has now 29 branches and another 3 branches are set to be liquidated this year and by that the optimization plan of the bank will be finalized. Ardshinbank is the only Armenian bank that has its representation abroad, in Paris. Farmanian said that though no investment contracts had been concluded by it, but it has involved new deposits and money transfers.