BTA INVESTBANK ARMENIA INTRODUCES EXPRESS MONEY TRANSFER SYSTEM
Arka News Agency, Armenia
Dec 11 2006
YEREVAN, December 11. /ARKA/. The BTA Investbank Armenia has introduced
the "FATSER" system of express money transfers. The BTA press service
reports that the system allows individuals to effect and receive
express money transfers to and from Russia, Kazakhstan, Belarus,
China, etc..
The "FASTER" system allows the recipients to receive the money in
one minute. The BTA Investbank also cooperates with the "Migom" and
"Western Union" systems.
The bank’s principal stockholder, Bank Turan Alem, intends to expand
its activities in Armenia in 2007. Among its strategic goals is
increasing its presence in the CIS retail, small and medium-sized
businesses and corporate service markets.
The FASTER" system was developed by the Bank Turan Alem in 2006.
Armenia’s commercial banks are currently participating in the following
money transfer systerms: Western Union, Money Gram, Anelik, Unistream,
Express Post, Interexpress, Contact, Lider, Migom, Privat Money
Transfer, STB Express, Armenian Express.
The BTA Investbank is the success of the International Investment
Bank founded in 1991. The bank is a strategic partner of one of the
largest banks in Kazakhstan, Bank Turan Alem, which purchased 48.9%
of shares in the authorized capital of the "InterInvestBank" CJSC,
which was renamed BTA Investbank.
By September 30, 2006, the bank’s assets had amounted to AMD 9.7bln,
credit investments AMD 6.7bln, total capital AMD 3.1bln, net profit
AMD 46.1mln (in January-September 2006). The bank’s authorized capital
is AMD 3.4bln.