The process of the bank’s membership in the system was launched in late 2010, and ARARATBANK became the exclusive representative of Diners Club in Armenia.

By the end of 2011, the bank will complete the process of introducing the corresponding software support and integrating cash machines and POS terminals with Diners Club global network.

Diners Club system was founded in 1950 and provides financial services in over 185 countries via 675 thousand cash machines and currency cashing points

One can use the service via any browser, entering the https://ic.ebank.areximbank.am/InternetBank/Mobile/ webpage.

Areximbank’s internet banking service allows the customer viewing current remainders on the accounts, statements on the account, credit and deposit agreements, schedules for credit repayment, as well as realizing money transfers, utility service payments, repayment of credits and replenishment of deposit sums.

Mediamax was informed in “Idram” that the representatives of 18 Armenian IT companies took part in GITI-2010 conference in Tbilisi on November 10-12.

Armenian companies became the winners in 5 nominations from 14.

In particular «EKENG» company became the winner in “Best IT project suggestion” nomination, “X-TECH” in “Best multimedia solution”, “Lime Tech” in “Best integrator”, “Essential Solutions” in “Best solution on B2B” and “Idram” in “Best complex business solution”.

The supply agreement is the security means to receive such type of a credit. In case there is good credit history and business reputation of the sides, the bank will finance up to 75% of the total cost of the order (but no more than USD 200 000) at the annual interest rate of 16%. Purchase order financing is carried out in AMD, USD and EUR. The maximum repayment term makes 180 days.

Touching upon the service of classical factoring, Levon Arevshatyan stated that it implies that the bank purchases debt liabilities to the suppliers of the following companies: “Armenia International Airports”, “ArmenTel”, “K-Telecom”, “Yerevan Brandy Company”, “Yerevan Jur”, “Zangezur Copper-Molybdenum Plant”, “Electric Networks of Armenia”, “ArmRosGazprom”, “Armenian NPP”, “South-Caucasus railroad”, “Rusal-Armenal”.

In case of classical factoring, financing is provided to the supplier after fulfillment of the order, if the latter needs financial means before the term of account settlement with the purchaser. In case of classical factoring, the security means is the agreement, concluded between the purchaser and the supplier, as well as other documents, confirming fulfillment of the order. The service of classical factoring is provided in AMD at the annual interest rate of 14% for the term of up to 120 days.

Levon Arevshatyan noted that these services are a novelty in the banking system of Armenia and the bank made a decision to introduce those services after studying the demands of customers.

Telcell summed up the results of “Utility Service Payments Championship of Armenia”, which took place within the framework of DigiTec Expo 2010 annual exhibition.

The first place and a financial award of 50 thousand AMD went to Mher Karapetyan, who paid for the entire set of utility services (landline telephone connection, electricity, gas and water) only in 31.1 seconds.

“Express system for paying for utility services, which we presented at DigiTec for the first time, received exclusively positive assessments from the participants of the forum. Such “extreme” testing demonstrated that the product is fully ready for implementation. In the nearest future this service will be launched on all payment terminals of our system”, Telcell Marketing Director Sergey Usnunts stated.

Mediamax was informed in the press service of the bank that from now on the bank will apply “Firm Basis, Reliable Future” motto instead of “Guarantee of Your Success”.

““Anelik Bank” has changed a few mottos in the course of its activity in 20 years. The mottos were concordant with the given period of time. The new motto, stressing the path the bank has gone and the confidence in future, fully reflects our mission and advantages”, Chairman of “Anelik Bank” Board of Directors Samvel Chzmachyan stated.

As Mediamax was informed in the National Statistical Service of Armenia, the volume of credits, provided by banks in foreign currency, as of the end of July made 426bln 376mln AMD, and in national currency – 347bln 912mln AMD. The volume of credits in foreign currency increased by 11bln 761mln AMD (2.83%), as compared to June, and the volume of AMD credits reduced by 1.24% or by 4bln 362mln AMD.

The volume of overdue credits in the banking system of Armenia as of the end of July made 4bln 124mln AMD, having reduced by 994mln AMD or by 19.4%, as compared to June. At that, the sum of overdue credits increased by 5bln 391mln AMD (16%), as compared to June, and made 39bln 21mln AMD.

The volume of credits, issued by credit organizations of Armenia as of the end of July, 2010, made 54bln 486mln AMD, having reduced by 247mln AMD, as compared to June.

The volume of deposits, attracted by Armenian commercial banks as of the end of July, 2010, made 635bln 995mln AMD, having increased by 8bln 309mln AMD, as compared to June. At that, as compared to March, 2010, the aggregate volume of deposits reduced by 8.4% or by 58bln 132mln AMD.

The volume of residents’ deposits made 532bln 228mln AMD as of the end of July, having increased by 9bln 972mln AMD, as compared to June, while the deposits of non-residents in the same period reduced by 1bln 662mln, making 103bln 768mln AMD. As compared to March, both the volume of residents’ deposits (by 36bln 302mln AMD) and of non-residents’ deposits (by 21bln 830mln AMD) reduced.

The volume of deposits in foreign currency as of the end of July made 463bln 29mln AMD (72.8% from the total sum of the deposits), in national currency – 172bln 967mln AMD (27.2%). As compared to February, 2010, the share of deposits in foreign currency reduced by 1.9 percentage points.

The remainder on deposits in banks as of the end of July, 2010, made 312 554mln AMD, having increased by 25%, as compared to the same period of 2009.

As Mediamax was informed in the National Statistical Service of Armenia today, GDP volume in January-August made 2 trillion 42bln 788.8mln AMD. Speeds of GDP growth in Armenia since June continue slowing down: in January-May, 2010, the economy growth made 8.8%, and in January-June – 6.7%, in January-July – 4%.

Volume of industrial production in the country in January-August, 2010, made 503bln 982.3mln AMD, having increased by 11.5%, as compared to January-August of 2009.

18% decline was observed in January-August, 2010, in the sphere of agriculture. Decline speeds in agricultural sector reduced by 5 percentage points, as compared to January-July.

Average monthly salary in Armenia in January-August increased by 7.8%, as compared to the analogous period of last year, making 105 613 AMD ($290).

Armenian export increased by 43.8% in January-August, 2010

Foreign trade turnover of Armenia made AMD 1 trillion 122.9bln or USD 2bln 958.7mln in January-August, 2010, having increased by 25.3%, as compared to the same period of 2009.

As Mediamax was informed in the National Statistical Service of Armenia today, export volume increased by 43.8%, making AMD 227.4bln or USD 598.1mln in the accounting period. Import in January-August, 2010, increased by 21.3%, as compared to the same period of 2009, making AMD 895.5bln or USD 2bln 360.6mln.

Deficit of foreign trade balance in January-August, 2010, made AMD 668.1bln or USD 1bln 762.5mln.

Mediamax was informed in the press service of “Converse Bank” that VISA Electron cards will be provided to senders and recipients of money transfers with the sum, equivalent to 100-500 USD/EUR, and VISA Classic cards will be provided in case of sending/receiving money transfers with the sum, exceeding 500 USD/EUR.

“Converse Bank” is a member of the following money transfer systems: Migom, Money Gram, Contact, Blizko, Leader, Interexpress, “Bistraya Pochta” and “Zolotaya Korona”.

Mediamax was informed in the press service of the bank that since September 14, the system will be serviced in all branches of the bank. The new system will allow the customers of the bank making fast money transfers in RR, USD and EUR.

While receiving a sum, sent via “Zolotaya Korona” system, in “Ardshininvestbank” branch, there is no commission fee collected from the recipient. The tariff via this system makes 1.5% from the sum transferred.