YEREVAN, December 16. / ARKA /. The Russian-owned Areximbank-Gazprombank Group said today it has joined the Armenian Converse Transfer payment and settlement system to make international remittances without account opening.

According to the bank, the Converse Transfer system allows sending and receiving instant money transfers throughout Armenia, as well as receiving remittances from the CIS and Georgia in Armenian drams, US dollars, euros and Russian rubles. The commission fee is 1% of the amount transferred.

Areximbank-Gazprombank Group also makes international money transfers without account opening via MONEYGRAM, ANELIK, UNISTREAM, AVERS, INTELEXPRESS, SIGUEMONEYTRANSFER , RIAMONEYTRANSFER systems, as well personal money transfers without account opening via Gazprom-Express from Russia to Armenia, as well as instant money transfers between Russia and Armenia through ATMs.

The bank’s assets as of September 30 stood at 130 million drams, a decline of 44.3 percent from the beginning of the year. Its liabilities slashed by 48.32 percent to 109.6 billion drams; the capital fell by 4.41 percent to 20.4 billion drams, credit investments dropped by 19.13 percent to 75 billion drams. In the third quarter the bank saw 941.2 million drams in losses against 413 million drams in profit from the year before.

Areximbank established in 1998 is owned fully by Russian Gazprombank-Group.-0-