Monday, February 12 2018 17:59
Alina Hovhannisyan

Converse Bank was awarded "Euro STP Excellence Award 2017" international prize

Converse Bank was awarded "Euro STP Excellence Award 2017" international prize

ArmInfo. Converse Bank was awarded the prize "Euro STP Excellence Award 2017" from the leading Belgian bank KBC Bank N.V. for excellent quality. The press service of the Bank told ArmInfo.

"The Converse Bank prize was awarded for 99.93% of remittances without human intervention, an achievement that, thanks to efforts in the field of money transfers, the awarded institution managed to achieve an extremely high level of operational excellence," the Bank's statement reads.

This prestigious award indicates that the services provided by the Bank meet high international quality criteria. Money transfers are processed exclusively automatically, which ensures the maximum speed of receiving the transfer amount by the beneficiary.

"For us this is a double achievement, because in 2017 we managed to maintain the achieved high quality level simultaneously with significant quantitative growth of transfers through the SWIFT system," said Converse Bank CFO Hrant Hakobyan.

The beginning of cooperation between the leading Belgian bank KBC Bank N.V. and Converse Bank was laid more than ten years ago. The history of cooperation between the two banks covers both correspondent relations and the sphere of trade finance, with each year steadily expanding the area of interaction.

Converse Bank has been operating in the Armenian market since September 1996. The Bank's shareholders are Advanced Global Investments LLc (hand-Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%, the Cathedral of the Mother See of Etchmiadzin - 5%. The Bank's branch network has 34 branches, out of which 13 are located in Yerevan, 20 - in the regions of Armenia and 1 - in Artsakh.

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Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

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200 million

Yield at cut-off price

 5.8314%

Maximum yield

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Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

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2

The maturity date of T-bills

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