UNIstream Turnover In Armenia Exceeded $65,5 Mln In July 2007 Beatin


Mediamax Agency, Armenia
Aug 3 2007

Yerevan, August 3 /Mediamax/. In July 2007 the turnover of UNIstream
money transfer system in Armenia exceeded $65,5 mln beating its own
record of unprecedented growth of turnover volume.

Till now the monthly turnover has not gone beyond $50 mln on the
average, Mediamax was told in Unibank press service today.

Commenting on the rapid pace of business growth, the director of
Unibank operating activities, Vardan Aghadjanyan, said that Armenia
is one of the most dynamically developing segments of the CIS money
transfer market.

As of the first half of 2007, the system turnover in Armenia made $
226,2 mln, 1,7 times exceeding the figures of the same period last
year. UNIstream has the highest segment of the money transfer market
in Armenia – more than 47%. The bank is expected to have a turnover
of $600 mln in Armenia by the end of the year.

"The UNIstream system better suits the specificity of our consumers,
besides unlike the western systems it offers a rather low fixed
percentage – 1% of the transferred sum. That’s why people trust our
system and the volumes continue to grow up," Vardan Aghadjanyan noted.

Beginning November 2006, the Unibank introduced a new service – the
transfers can be received in the Armenian dram. In this case there
is no transfer commission – the rate is 0%.

The UNIstream system controls about 25% of the CIS money transfer
market. As of 2006, the overall turnover of the system made $1,85
bln. The company operates more than 30 000 offices in 85 countries
of the world and serves about 800 thousand clients annually. The
expected turnover of the system for the end of 2007 is $4 bln.