CASCADE BANK JOINS "BISTRAYA POCHTA" FAST MONEY TRANSFER SYSTEM

ArmInfo
16.02.2010

ArmInfo.Cascade Bank CJSC informs that it has connected to "Bistraya
Pochta" fast money transfer system. As the bank’s press service told
ArmInfo, henceforth, the Bank clients can make fast and reliable
transfers in USD and Euro by the above-mentioned system. This system
is used almost in all CIS countries.

Please be reminded that since 2008 Cascade Bank has been cooperating
with MIGOM and MONEY GRAM systems. Transfers are made from the Bank
head office and any of its branches.

To note, Cascade Bank is among the medium Armenian banks by the size of
assets, which grew by 37% in 2009 and reached 19 bln drams by January
1, 2010. The bank’s credit portfolio increased by 50% to 11 bln drams,
3,3% of which falls on non-working credits. The bank’s total capital as
of January 1, 2010, made up 7.6 bln drams, and the deposit portfolio –
5 bln drams. The bank held the 5th position among 22 banks by return
on assets. Upon the results of 2009, the bank succeeded to assure
413 mln drams of net profit.