YEREVAN. – Gevorg Machanyan has been elected the new Chairman of the Board of the Union of Banks of Armenia (UBA) at the regular meeting of the board, UBA informed Armenian News-NEWS.am.

He will replace Artak Ananyan, who chaired the UBA Board from 2020 to 2021.

According to the UBA charter, the chairman of its board is elected for a one-year term.

Gevorg Machanyan has more than forty years of experience in the banking system.