Armeconombank Plans To Substantially Increase The Number Of The Issu

ARMECONOMBANK PLANS TO SUBSTANTIALLY INCREASE THE NUMBER OF THE ISSUED PLASTIC CARDS

ArmInfo
2009-09-08 18:08:00

ArmInfo. Armeconombank plans to substantially increase the number
of the issued plastic cards till late October, 2009, to 73000 cards
against the present 71000 ones. As Head of Armeconombank Department
for Plastic Card Operations Vardan Yeghiazaryan told ArmInfo, the
bank intends to increase the number of its cards via signing of new
payroll agreements with big companies.

"Preliminary agreements with different companies are available,
in particular, those from the state and private sector with a staff
of at least 400-500 employees", -he said. V. Yeghiazaryan also said
that besides the payroll projects, the management of these companies
expressed a desire to cooperate with Armeconombank on other projects
as well. "Some of these companies used to cooperate with us, however,
further they changed the partner-bank for different reasons. No,
they decided to return to Armeconombank again, that indicates high
level of the client service in our bank", he emphasized.

According to V. Yeghiazaryan, Armeconombank substantially activated
emission of cards in summer, 2009, unlike the summer periods of the
previous years.

So, if the total number of the bank’s active plastic cards by July 1
made up 69800 pieces (including 6666 MasterCard and 63134 – ArCa),
their number by August 1 reached 70402 pieces (6835 MasterCard and
63567 – Ar’a).

Moreover, the volume of transactions with the bank cards through
ATM increased by 15% over July to 3.4 bln drams, and the number
of transactions grew by 10% to 92631. Along with it, the volume
of cash-out by Armeconombank’s cards through POS-terminals in July
did not change as compared to June – 540 mln drams (under 7991 in
number). As of August 1, the bank had 50 ATMs and 201 POS-terminals.