Armenian Central Bank Board registers new Fast Bank

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09.11.2022, 19:51

Armenia’s Central Bank’s Board decided on Wednesday to register Fast Credit Capital universal credit organization as a bank under the name of Fast Bank cjsc and to issue it a license for banking activities.

Armenian Central Bank Board registers new Fast Bank

YEREVAN, November 9. /ARKA/. Armenia’s Central Bank’s Board decided on Wednesday to register Fast Credit Capital universal credit organization as a bank under the name of Fast Bank cjsc and to issue it a license for banking activities.

The Board invalidated credit organization’s license, saying also that all rights and obligations of Fast Credit Capital cjsc are transferred to Fast Bank cjsc.

The Central Bank’s Board's decision is based on its August 4, 2021 preliminary approval of a change in the activities of Fast Credit Capital cjsc.

After receiving the initial approval, the credit organization implemented a set of measures stipulated by legislation within a year, and applied to the Central Bank of Armenia for registration as a bank and obtaining a banking license.

The Fast Bank is obliged to inform its clients about the changes in the activity of the credit institution within a reasonable period. Before this decision, there were 17 commercial banks in Armenia. -0-

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