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Armenian Unibank's Branch Network To Get Online

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  • Armenian Unibank's Branch Network To Get Online

    ARMENIAN UNIBANK'S BRANCH NETWORK TO GET ONLINE

    ARKA
    Feb 3, 2009

    YEREVAN, February 3. /ARKA/. Armenia's Unibank plans to launch
    an online branch network in March, with its Abovyan, Artashat and
    Echmiadzin branches getting online in January.

    Currently, the bank's head office, as well as its 12 Yerevan-based
    and seven regional branches are connected to a common database.

    "Thanks to the online system, our clients can make deals in any branch
    inside the system, irrespective of the initial address of the service,"
    Unibank's press service says.

    The bank believes the online system is particularly advantageous for
    customers using money transfer services. The bank allows clients to
    get transfers through Unistream in any branch connected to Unibank's
    online system, no matter what address the sender has mentioned.

    Unistream money transfers' turnover reached $802mln in Armenia last
    year - 22% year-on-year rise. The bank started to introduce the online
    branch network system last July.

    Established in 2001, Unibank offers a full range of banking
    services via its head office and 30 branches in Yerevan and Armenian
    regions. The bank's liabilities rose 53.7% to 59bln 319mln drams
    in 2008, with its total capital reaching 8bln 822mln drams (25.8%
    year-on-year increase). Unibank's assets rose 49.4% to 68bln 141mln
    drams. As a result, the bank earned 1bln 729mln worth net profit
    last year.

    U niastrum Asset Management LLC is the 50% shareholder of the
    bank, with the rest of the shares owned by Eviainvest LLC resident
    company.
    From: Baghdasarian
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