Non-cash payments by Bank VTB (Armenia) cards rose by 59% to 7 billion drams in 2013

10.04.2014 16:19
Non-cash payments by Bank VTB (Armenia) cards rose by 59% to 7 billion drams in 2013

YEREVAN, April 10. /ARKA/. Non-cash payments using Bank VTB (Armenia) cards rose by 59% to about 7 billion drams as of the end of 2013 compared to 2012, the bank’s press office reported.

Number of non-cash transactions increased by 64% to a total of 313,000, according to the report.

In 2013, card holders started using Internet banking to pay the bills rather than withdrawing money from their accounts, says the report.

Bank VTB (Armenia) is still leading in terms of number of cards issued in the Armenian banking market. The bank’s clients use Visa and MasterCard debit and credit cards more often. The bank joined the MasterCard payment system in 2013.

The dynamics show that the clients are now aware of the advantages of non-cash payments, and payment cards are turning into a convenient and safe payment instrument to them, general director and chairman of board of Bank VTB (Armenia) Yury Gusev said.

Motivational campaigns have also contributed to increase in non-cash payments, Gusev said.

Bank VTB (Armenia) closed joint stock company became a member of VTB financial group in April 2004. The second biggest Russian bank, Bank VTB ojsc is now the full owner of Bank VTB (Armenia). The bank is among leaders of Armenian banking system in a number of basic indicators. It currently has the biggest network in Armenia – 67 branch offices across the country. –


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