OREANDA-NEWS. October 26, 2010. One of the most important prerequisites and pillars for strategic development of ARARATBANK is the introduction of technologies and business culture conforming to the best international practices. Proceeding from this approach, a top management group headed by A. Osipyan, Chairman of ARARATBANK’s Executive Board made a business visit to the National Bank of Canada (www.nbc.ca), one of the largest Canadian banks and a partner of ARARATBANK. The purpose of the visit was studying the experience of the National Bank of Canada related to corporate management, strategic planning, formalization of business processes, risk management and other aspects of banking activities, reported the press-centre of ARARATBANK.

During the visit ARARATBANK and top management of National Bank of Canada discussed possibilities of further development and made arrangements for a number of programs to be implemented jointly. One of the discussed issues worth mentioning was offering a benefit package of banking services to the large Armenian community of Montreal through the National Bank of Canada and ARARATBANK. This aroused great interest and the Canadian party expressed their willingness to support this program by also involving their branch network.

The delegation of ARARATBANK also had a meeting with the Armenian community of Montreal. Mr. A. Osipyan, Chairman of the Executive Board of ARARATBANK, spoke during the meeting and answered several questions related to the Armenian economy and banking system, impact of the global financial-economic crisis. The visit attracted considerable attention and was covered by numerous local Armenian media.