Friday, March 2 2012 17:24
Despite certain decrease of cash remittance volume in 2011, this year Areximbank-Gasprombank Group expects growth of transfers by 20%
Arminfo. Despite certain decrease of cash remittance volume in 2011, this year Areximbank-Gasprombank Group expects growth of remittance by 20%, deputy director general of Areximbank-Gasprombank Group, Ruben Khachatryan, told Arminfo correspondent.
"Since the beginning of the crisis in the banking system of Armenia the noticeable decrease of the cash remittance has been noted. This may be explained by the two key factors: first, the world financial crisis, and second, harsh competition among the banks", - Khachatryan said. He also added that at present almost all the banks offer their customers international cash remittance service practically on equal conditions. "The market is full of proposals. For this reason, the demand has decreased. Similar situation happened in our bank in 2011. If compared with the results of 2010, the volume of the cash remittance of individual persons dropped by 20% and amounted to 5 bln drams versus 6.2 bln drams in 2010. As for the remittance of the legal persons, they dropped by 11%. Nevertheless, in 2011 positive dynamics of increasing of the cash remittance volume was noticed in all the banking system of Armenia in general, by about 11-15 %, he said. "The improvement of the situation makes us hope for the growth of the cash remittance volume by about 20% in 2012. Of course, I have already said that the competition is harsh at the market, they have been fighting for every customer and only the bank which offers high quality service wins. For this reason, the bank should always raise effectiveness of work, extend the specter of services and widen partnership with different international payment systems", - Khachatryan said.
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