YEREVAN, JANUARY 18, ARMENPRESS. The American “Golden State Bank” and Ameriabank announced the signing of a memorandum of understanding.

The memorandum of understanding was signed between Golden State Bank Executive Vice President Alex Hovsepian and Ameriabank CEO Artak Hanesyan.

The memorandum of understanding seeks to establish closer collaboration between the two respected institutions and enables existing and prospective customers of the two banks to have access to each other’s markets and services.

“We have good knowledge of and highly respect the Armenian banking sector. We have strong banking relationships in the Armenian American business community in Los Angeles. We are excited about our new relationship with Ameriabank which is one of the most respected and highly regarded banks in Armenia. We are looking forward to offer our clientele referral services and additional ease to invest and operate in Armenia, which will undoubtedly contribute to economic development and create new jobs in the country, at the same time offering services to entities in the Armenian market to access service areas and markets where Golden State Bank operates”, Alex Hovsepian, Golden State Bank Executive Vice President said.

Hovsepian added this collaboration is the first such instance between an Armenia-based bank and a US-based commercial banking institution, and will offer unprecedented opportunity for individuals in and from Armenia to buy real estate in California and access a wide array of banking services through funding from Golden State Bank preliminary applying to Ameriabank.

“I highly value the new cooperation with Golden State Bank which will make it possible to bridge the distance between Armenia and California, enable both banks to expand and boost their business and open up access to real estate markets for businesses and individuals. Our collaboration will facilitate the expansion of cooperation between the two countries, in particular, building new business relationships with an important segment of the Armenian Diaspora”, Tigran Jrbashian, Ameriabank director for development said.