ArmRadio
2007-02-23 14:06:00

Araratbank presents new plastic cards – Avtocard

In early May, Araratbank will present a new type of plastic cards –
Avtocard. "It is an automobile designed card – with many options and
bonuses in auto-services, insurance and tourism. Now the bank holds
negotiations with Georgian partners to enable the card owners to be
provided with the whole service-portfolio on Georgia’s territory
too. Especially on the Black Sea coast – as many Armenians spend their
vacation there," Ashot Osipyan, Head of Araratbank, said at the press
conference today.

A. Osipyan said that the bank intends to be unique in its own way.
Mortgaging, consumer and business crediting programs will be set out
soon. The bank provides a special export-crediting program with quite
low interest rates. To prevent from the possible currency risks,
forward contracts for export will be available from March 2007. "We
believe that forwards will protect the clients’ interests and will fix
the rates for exporters," he said. A. Osipyan added that the bank has
big ambitions as the assets and capital grow. The bank will be open
and plans to conduct stocks emission. Work on it has started.