ArmInfo. VTB Bank Armenia summarized the results of cash transfers transactions of 2016, which showed a 6% annual growth despite the cash transfers market dropdown in Armenia for the period mentioned. According to the information obtained at the press office of the bank, VTB Ban Armenia share at the cash transfers market in 2016 grew for 13%.
According to the source, the anticipatory processes of the market became possible due to the Bank product line development, optimization of the cash transfers sending and receipt, as well as due to active marketing policy of the bank. Particularly, the indicators growth was preconditioned by launching the joint corridor/tariff of VTB Group within the framework of Unistream transfers system, which assumes that clients have the option to send addressed cash transfers to VTB Group banks in Georgia, Ukraine, Kazakhstan and Armenia at decreased tariffs forming 0,9% versus common market tariff which is 1,5 %. At the same time, VTB Bank Armenia in 2016 expanded the range of cooperation with other cash transfer tools, connecting to the new local cash transfer system of TellCell, and came out as a correspondent bank for the system.
To mention, nowadays the following cash transfer systems are operated at VTB Bank: MoneyGram, "Avers", "Unistream", "Fast Mail" ("Fast Post"), "InterExpress", "Intel …xpress", "Anelik", "Ria Money Transfer", "Sigue Money Transfer", which, in its turn, secures the competitiveness of the Bank at the market of Banking services provided to the population. The bank started to cooperate with Unistream system in 2011, becoming a leader in the sector of cash transfers in Armenia.
To remind, from 2004 VTB Bank Armenia JSC is the part of VTB Group (100pct share). It has the country's biggest branch network - 67 branches.