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Despite certain decrease of cash remittance volume in 2011, this year
Areximbank-Gasprombank Group expects growth of transfers by 20%
arminfo
Saturday, March 3, 18:34
Despite certain decrease of cash remittance volume in 2011, this year
Areximbank-Gasprombank Group expects growth of remittance by 20%,
deputy director general of Areximbank-Gasprombank Group, Ruben
Khachatryan, told Arminfo correspondent.
"Since the beginning of the crisis in the banking system of Armenia
the noticeable decrease of the cash remittance has been noted. This
may be explained by the two key factors: first, the world financial
crisis, and second, harsh competition among the banks", - Khachatryan
said. He also added that at present almost all the banks offer their
customers international cash remittance service practically on equal
conditions. "The market is full of proposals. For this reason, the
demand has decreased. Similar situation happened in our bank in 2011.
If compared with the results of 2010, the volume of the cash
remittance of individual persons dropped by 20% and amounted to 5 bln
drams versus 6.2 bln drams in 2010. As for the remittance of the legal
persons, they dropped by 11%. Nevertheless, in 2011 positive dynamics
of increasing of the cash remittance volume was noticed in all the
banking system of Armenia in general, by about 11-15 %, he said. "The
improvement of the situation makes us hope for the growth of the cash
remittance volume by about 20% in 2012. Of course, I have already
said that the competition is harsh at the market, they have been
fighting for every customer and only the bank which offers high
quality service wins. For this reason, the bank should always raise
effectiveness of work, extend the specter of services and widen
partnership with different international payment systems", -
Khachatryan said.
Areximbank-Gasprombank Group expects growth of transfers by 20%
arminfo
Saturday, March 3, 18:34
Despite certain decrease of cash remittance volume in 2011, this year
Areximbank-Gasprombank Group expects growth of remittance by 20%,
deputy director general of Areximbank-Gasprombank Group, Ruben
Khachatryan, told Arminfo correspondent.
"Since the beginning of the crisis in the banking system of Armenia
the noticeable decrease of the cash remittance has been noted. This
may be explained by the two key factors: first, the world financial
crisis, and second, harsh competition among the banks", - Khachatryan
said. He also added that at present almost all the banks offer their
customers international cash remittance service practically on equal
conditions. "The market is full of proposals. For this reason, the
demand has decreased. Similar situation happened in our bank in 2011.
If compared with the results of 2010, the volume of the cash
remittance of individual persons dropped by 20% and amounted to 5 bln
drams versus 6.2 bln drams in 2010. As for the remittance of the legal
persons, they dropped by 11%. Nevertheless, in 2011 positive dynamics
of increasing of the cash remittance volume was noticed in all the
banking system of Armenia in general, by about 11-15 %, he said. "The
improvement of the situation makes us hope for the growth of the cash
remittance volume by about 20% in 2012. Of course, I have already
said that the competition is harsh at the market, they have been
fighting for every customer and only the bank which offers high
quality service wins. For this reason, the bank should always raise
effectiveness of work, extend the specter of services and widen
partnership with different international payment systems", -
Khachatryan said.