YEREVAN, October 21. /ARKA/. VTB Bank (Armenia) and VISA Company have summarized the results of ‘Summer with VTB’ marketing campaign and have raffled prizes among the most active holders of the bank’s Visa cards.

The bank’s Visa card holders, paying for goods and services over a period between July 20 and September 30 in any trade and service center in Armenia’s territory and abroad, scored bonus points – two points for every 1,000 drams paid in any trade and service outlets of VTB Bank (Armenia) and one point for the same amount paid through other banks’ outlets in Armenia and outside of it. Cardholders could score no more than 50 bonus points for one transaction.

“The aim of the campaign was to encourage non-cash payments and to enhance consumers’ awareness of functionality of Visa modern payment cards of VTB Bank (Armenia),” said Yuri Gusev, the bank CEO.

In his words, the campaign has increased the number and amounts of payments in the trade network and Internet.

Payments by using Visa cards of VTB Bank (Armenia) are becoming increasingly frequent and commonplace in Armenia.

Irina Kamkhadze, regional manager for Visa business development in Caucasus, said that the bank’s marketing campaigns aimed at boosting non-cash payments are effective.

“In particular, ‘Summer with VTB’ and ‘Winter with VTB’ marketing campaigns have repeatedly proved their effectiveness and have become the bank clients’ inseparable companions in summer and winter seasons,” she said. “Such campaigns speed up transition from cash to non-cash payments making non-cash payments available to more and more people in the country.”

Kamkhadze said referring to Visa data that turnover in trade network grew 26% from late June 2013 to late June 2014, and the ratio of turnover in the trade network to the total amount, including cash payments, exceeded 10% in the second quarter of this year.

VTB Bank (Armenia) has raffled 100 prizes – 50 certificates for buying electronics and 50 certificates for formalizing banking products on preferential conditions: -1% on loans or +1% on deposits.

The campaign’s top prize - a two-person trip to Malta went to Gayane Babayan.

VTB Bank (Armenia) says that the number of non-cash transactions made by using its Visa cards rose 50% over this campaign and turnover on the bank’s Visa cards grew 66%, compared with the same period a year before. Some 10,000 transactions were made every day during the campaign.

VTB Bank (Armenia) joined VTB Group in April 2004. Now VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has the largest branch network in the country - 69 branches all over Armenia’s territory. VTB Bank (Armenia) is reckoned among leaders for general indicators.

The bank’s assets have grown 1.38% since the beginning of this year reaching AMD 306.4 billion by late September. Its liabilities totaled AMD 260.8 billion in late September after shrinking 1.58% since the beginning of this year. The banks’ total capital grew 22.44% to AMD 45.6 billion and its credit investments amounted to AMD 224.3 (2.53% growth).

VTB Bank (Armenia) earned AMD 870.8 million in profits over the 3rd Q 2014 accounting for 78.3% year-on-year decline. ($1 – AMD 409.69). --0--