Thursday, July 21 2011 13:46
Share of Zolotaya Korona-Money Transfers in Russia-Armenia money transfer flow grows to 20%
ArmInfo. In Q1 2011 the share of the Zolotaya Korona-Money Transfers system in the Russia-Armenia money transfer flow grew to 20%, Shakhla Kasimova, the company's deputy director for the CIS, said in an interview to ArmInfo.
She said that in Jan-June 2011 as compared with Jan-June 2010 the amount of the system's money transfers from Russia to Armenia grew by 2.5 times. Transfers to Armenia make up just 3.61% of the total flow comprising four segments (Russia-Russia, Russia-CIS, CIS-Russia, CIS-CIS).
According to Kasimova, Zolotaya Korona-Money Transfers has six partner banks in Armenia (five of them are from the top ten: ACBA-Credit Agricole Bank, Ardshininvestbank, Converse Bank, ARARATBANK). In ACBA-Credit Agricole Bank the system has 60% share in the total money transfer flow.
Kasimova said that presently Zolotaya Korona-Money Transfers is actively developing its partner relations with a view to improve the quality of its services. In Jan-June 2011 the system introduced a new innovative product - sender's card, provided by Armeconombank, and organized operator training courses for 120 employees of Ardshininvestbank, Armeconombank and ACBA-Credit Agricole Bank.
In late June 2011 the system introduced a super-low tariff for money transfers from Russia to Armenia: 0.5% for big transfers (over 50,000 RUR), 1% for smaller ones (less than 50,000 RUR). Starting from June 1 2011 senders using "Svaznoy" network can transfer money at 1% irrespective of the size of their transfers. "The objective of our tariff campaign is to enlarge our presence in Armenia from 20% to 50% and to become a leader," Kasimova said.
The partners of Zolotaya Korona-Money Transfers in Armenia are Ardshininvestbank (55 branches), ACBA-Credit Agricole Bank (40 branches), Armeconombank (36 branches), ARARATBANK (34 branches), Converse Bank (28 branches), INECOBANK and BTA Bank.
Zolotaya Korona-Money Transfers is part of the "Financial Technologies Center" State Company (Russia). In Jan-June 2011 it carried out 6.9mln private money transfer transactions worth a total of $3.15bln. As compared with Jan-June 2010 their turnover grew by 2.6 times, the number - by 180%. The system has more than 25,000 outlets. In Jan-June 2011 it issued 1.8mln sender's cards (in Russia and the CIS). As of June 30 2011 there were 4.2mln such cards. By the end of this year their number is expected to grow to 6mln. In June 2011 Zolotaya Korona-Money Transfers was granted silver medal in the Breakthrough nomination at Banking Industry Awards.
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