IN THE FIRST HALF YEAR 2009 ARMECONOMBANK INCREASED NUMBER OF ACTIVE CARDS BY 26.4% TO ALMOST 70 THSD

ArmInfo
2009-07-10 19:28:00

ArmInfo. In the first half year 2009 Armeconombank increased the
number of active cards by 26.4% to 69802 as compared with the same
period of 2008.

Head of Plastic Card Operations Management Division of Armeconombank
Vardan Yeghiazaryan told ArmInfo correspondent that in the second
quarter 2009 the bank increased the number of active cards by 4.4%.

According to him, the share of MasterCards made up 6666, or 9,5% of the
total number of cards, having increased by 16% in the second quarter ,
ArCa – 90,5%, or 63136, having increased by 3,7% in II qt. Yeghiazaryan
stressed that in II qt tendency of monthly growth in transactions with
Armeconombank was observed. Thus, if in May the volume of transactions
with Armeconombank cards via bancomats, POS- terminals amounted to
3.3 bln AMD (number of transactions – 165 thsd), in June this index
grew to 3.5 bln AMD (number of transactions – 170 thsd).

He said that as of July 1, 2009, Armeconombank had 48 bancomats (4 of
them having cash-in function), the annual growth being 26%, and the
growth for II qt being 4.4%. By 1 July the number of Armeconombank
POS-terminals amounted to 203, the annual growth being 15.3%.

Yeghiazaryan pointed out that under card projects Armeconombank works
with 570 enterprises in Armenia, this index is expected to considerably
grow since September. "Under salary projects, we are going to start
active cooperation with numerous schools of both Yerevan and regions
since autumn",- he said.

To note, the Sukiasyan family of entrepreneurs owns 53,4% of
Armeconombank shares, and 25%+1 share is controlled by the European
Bank for Reconstruction and Development (EBRD).