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Wednesday, August 23, 2017

Armenia's Ameriabank anticipates card payments to reach $34 billion by end of year

Ameriabank, the first investment bank in Armenia, said recently that its non-cash turnover will be at least $34 billion by the end of the year.

Arman Barseghyan, head of retail operations at Ameriabank, said at a news conference on Wednesday that the development of its card business is one of the bank's top priorities. He said the number of cards issued by the bank nearly doubled in the first half of the year compared to the same period last year, and that non-cash transactions rose by 40 percent, ARKA reports.

The bank has issued more than 50,000 cards and plans to raise that number to 65,000 by the end of the year--an increase of 30 percent year-over-year.

Tigran Jrbashyan, head of development at Ameriabank, said that although the ban is not leading in terms of the number of cards, it is a leader in non-cash turnover, according to ARKA.

Ameriabank began providing a full range of banking services in 2007 and currently has nine branches in Yerevan, Nagorno-Karabakh, Kajaran, Dilijan and Vanadzor.