IN 2008 ARDSHININVESTBANK INCREASED TURNOVER OF MONEY TRANSFERS BY 10%

ArmInfo
2008-12-28 20:47:00

ArmInfo. In 2008 Ardshininvestbank increased the turnover of money
transfers by 10% (up to $200 mln) as compared to 2007, Head of
Private Transfers Department of Ardshininvestbank Tigran Shahinyan
told ArmInfo correspondent.

According to him, the lion’s share of transfers fell on the Contact
system – 25%. "The bank carries out money transfers also via
international payment systems Money Gram, Migom, Bystraya Pochta,
Promsvyazbank, Sotsgorbank, Forabank, Sberbank; 90% of the total
volume of transfers are transfers to Armenia", Shahinyan said. He
added that 70% of the total volume of the bank’s transfers fall on
the CIS, the rest – on the USA and Europe.

At the same time, Shahinyan said that the average amount of one
transfer is $700, commission fees range from 0.2% to 3% depending on
the system, speed and geography. To note, Ardshininvestbank is one
of the largest banks of Armenia. According to the Ranking of Banks by
ArmInfo, as of 1 October 2008, the bank’s assets totalled 117.0 bln AMD
(1st position), total capital – 23.0 bln AMD (3rd position), credit
portfolio – 79.7 bln AMD, profit – 4.4 bln AMD (1st position). The bank
has 11 shareholders (7 – individuals and 4 legal persons), the major
shareholders being CJSC Investment Finance Corporation – 86,82% and
International Finance Corporation (IFC) – 10%. The bank has 49 branches
in Armenia, 6 branches in Nagornyy Karabakh and 1 representative office
in Paris. The number of Ardshininvestbank clients is about 157 thsd.