YEREVAN, March 3. /ARKA/. VTB Bank (Armenia) will participate in RIA MONEY TRANSFER system, the bank’s press office reported on Thursday.

On March 1, the Central Bank of Armenia gave a relevant permission to the bank.

The bank’s clients will enjoy the whole range of RIA MONEY TRANSFER services starting from April.

The services will be provided in all the 68 branches of the bank in Yerevan and provinces.

Commenting on the agreement signed earlier with RIA MONEY TRANSFER system, Valery Ovsyannikov, director general and chairman of the bank’s directorial board, said that the agreement fully fits into the policy being pursued by the bank in the area of effective development of services and products in retail business.

“Starting our cooperation with RIA MONEY TRANSFER, we, in addition to profits expected to be gained thanks to growth of commission income, also plans to solve some other problems,” he said. “We plan to widen the range of the bank’s products by using new technologies and give people a chance to enjoy services of new alternative systems. I think this will enhance clients’ confidence in the bank.”

RIA MONEY TRANSFER is an international money transfer system. The system operates in more than 110 countries.

The network includes more than 100,000 outlets, of which 20,000 are agent outlets. The system has outlets in the United States, Canada, Great Britain, Ireland, Spain, Italy, France Germany, Switzerland, Sweden, Belgium, Australia etc.

VTB bank (Armenia) operates money transfers on eight fast transfer systems the newly introduced

RIA MONEY TRANSFER, SWIFT, MoneyGram, Migom, Blizko, Inter Express, Anelik and Bistraya Pochta.

This ensures a high competitiveness to the bank. -0-