YEREVAN, October 6, /ARKA/. Samvel Chzmachian, Anelik Bank board chairman, said today the volume of money transfers through Anelik money transfer system is very likely to hit $1 billion by yearend.

Speaking to ARKA news agency, he said the total amount of remittances via this system has slashed by 45% if compared to before-the-crisis 2008, but added that the volume of remittances shows a 3-5% growth every month. “I think by the end of the year the total amount of money transfers through Anelik system may rise to $1 billion,’ he predicted.

A total of $1.6 billion were remitted through this system in 2009. The system operates in around 100 countries through 200 banks and 63,000 agent points.

Some 51% in Anelik is owned by Lebanese CreditBank S.A.L., Samvel Chzmachian owns 12.25%, Arthur Arakelian- 12.25%, Armen Kazarian -12,25% and Galina Voronina-12.25%. The bank has 10 branches. O September 30 Anelik Bank’s total assets were worth 54. billion Drams, credit investments rose to 28. billion Drams. In the first half of the year it earned 266.9 million Drams in net profits. The bank has 10 branches in Armenia. ($1- 360.76 Drams).  -0-