Today Ameriabank and Golden State Bank signed a memorandum of understanding with the purpose to provide customers of both banks access to each other’s markets and services.

According to Golden State Bank Vice President Viken Alex Hovsepian, “this format of cooperation between Armenian and American banks is unprecendented”.

The memorandum will facilitate using intermediary services of the banks, as well as investing and doing business in Armenia.

Ameriabank Development Director Tigran Jrbashyan attached importance to the memorandum and expressed his hope that the services it covers will be in high demand.

“Ameriabank has always been interested in the United States market. We consider this document a step forward to the goals we set five years ago when we opened a representative office in USA,” he stressed.

According to Tigran Jrbashyan, cooperation with Golden State Bank will include international operations, guidance for clients, estimation of credit capacity, and offer of corresponding product (deposit, credit, account and card service, etc.).

“We have a 1-1.5 million people market in Armenian community of California, which is the most solvent in the Diaspora. When business people from Armenia export their product to USA market, they need to have a partner on the spot, which will meet their requirements. Golden State Bank will give us the opportunity to provide necessary banking infrastructure for business in California,” he said.

Moreover, Tigran Jrbashyan believes that cooperation with the American bank will allow U.S. companies and individuals to apply to Ameriabank for financing their business or purchasing real estate.

Golden State Bank is a California based bank, with Golden State Bancorp as its holding company. It provides full service on the business, commercial and professional markets. Golden State Bank serves clients through its head office and branch in Glendale, as well as regional office and branch in Upland.