Friday, December 10 2010 23:02
ARARATBANK becomes exclusive representative of Diners Club in Armenia
ArmInfo. ARARATBANK made an exclusive contract with the of Diners Club international payment system and has become the exclusive representative of the system in Armenia, ARARATBANK press-service told ArmInfo. That cooperation has become possible thanks to ARARATBANK's dynamic development, financial figures, extension of the branch network, increase in then umber of ATMs and cash-dispenser points, and more active involvement in the plastic cards market. Diners Club highly appreciated the following criteria of the bank: corporate management, quality and legal of banking services.
The source reported that ARARATBANK will serve Diners Club cardholders and persons making Diners Club e- payments.
Diners Club is the preferred charge card among frequent business travelers and affluent individuals and dominates the global travel segment in more than 200 countries. Diners Club Charge Card was the first multi-use card created in 1950 and still preferred by the upscale market segment. The bank has 675,000 ATMs and cash-dispensing points, which ARARATBANK is connecting to.
Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says total capital of ARARATBANK as of Oct 1 2010 amounted to 9.9 billion drams, assets - 42.2 billion drams. Over 60% of assets were loans that amounted 25.5 billion drams on Oct 1 20101. For 9 months of 2010 the bank's net profit total 981 million drams. The bank took the 6th position in terms of ROE (11.32%) and the 5th position in terms of ROA (2.50%).
Majority shareholder of ARARATBANKARE one of the biggest oil traders in Armenia, Flash Company with 74.1% and EBRD - 25%+1 share. The bank services 32 branches, including 15 in Yerevan, 16 in the regions and 1 in NKR. ARARATBANK issues and serves local ArCa local cards and MasterCard international - nearly 45.000 cards in total as of Oct 1 2010 (up 40% per year).
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan