ConverseBank launches own money transfer system

05.06.2014 11:16
ConverseBank launches own money transfer system

YEREVAN, June 5. /ARKA/. ConverseBank has launched own money transfer system Converse Transfer, the bank’s press office reported on Wednesday.

The Central Bank of Armenia authorized the launch of the new system on Tuesday. The system was tested yet in December 2013.

Converse Transfer allows individuals to transfer money quickly and without opening accounts across Armenia. It is possible so far to receive money only from Russia, but later the bank will expand this service’s territory.

Transfers are operated in Armenian drams, U.S. dollars, euros and Russian rubles.

According to the press release, Armenian banks have not joined the new system so far. Moby Dram money-transferring company has already joined the system.

ConverseBank was registered on December 20, 1993. In February 2007, Eduardo Eurnekian, Argentine entrepreneur of Armenian descent, bought 95% of the bank’s shares. The remaining 5% belong to Armenian Apostolic Church.

The bank’s assets totaled AMD 124.7 billion in early April 2014 and liabilities AMD 105.7 billion. Its capital amounted to AMD 19 billion and loan portfolio AMD 78.9 billion. The bank earned AMD 201.4 million in Jan-March 2014. ($1- AMD 413.71). -0--

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