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Armenian Development Bank merges with Araratbank
DEVELOPMENT BANK OJSC and ARARATBANK OJSC have signed a formal merger agreement. On December 15, the Board of the Central Bank confirned and registered the agreement to reorganize ARARATBANK OJSC, a remaining bank, with the ARMENIAN DEVELOPMENT BANK OJSC, a merging bank. ARARATBANK OJSC will be a fully-fledged successor of the ARMENIAN DEVELOPMENT BANK OJSC in terms of rights and liabilities.
