Activities of VTB Bank (Armenia)'s branch discontinuedJanuary 14, 2010 - 14:58 AMT PanARMENIAN.Net - By the decision of the Central Bank of Armenia's (CBA) chairman Arthur Javadyan activities of branch N 84 of VTB Bank (Armenia) are discontinued, press office of CBA reported. The CBA Board granted a license to implement remittances to EDram Ltd. VTB Bank (Armenia) (formerly Haykhnaybank) was established in 1923 to attract savings and provide consumer credit to the population. In September 2001 the government of Armenia made a decision to privatize the state-owned "Haykhnaybank" (Armenian Savings Bank) through its direct sale to the consortium of ARCH Limited/The Bahamas and Mika Armenia Trading. In early 2003 the entire shareholding of the company went to Mika Armenia Trading. In March, 2004, 70 per cent of the Haykhnaybank's stake were acquired by Russia's Vneshtorgbank. On 20 June, 2006 Haykhnaybank was renamed to "VTB-Armenia Bank". On July 25, 2007 VTB acquired 30 per cent minus 1 share in Mika Armenia Trading and became the sole owner of 100 per cent of stakes in its subsidiary bank, VTB Bank (Armenia) JSC. The Bank is a full member of Visa International. EDram was elaborated and introduced in 2003 with the aim to provide a convenient tool for electronic commerce in Armenia. EDram is an electronic system enabling to make on-line payments in units, equivalent to the Armenian dram for various services, products and make money transfers. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. sees “extraordinary” opportunity for peace between Armenia, Azerbaijan U.S. Secretary of State Antony Blinken believes there is an “extraordinary” opportunity to reach a peace agreement between Armenia and Azerbaijan. Viva: Armenia's leading technology company introduces a new trademark The updated brand Viva reflects a qualitatively new level of digital services. Turkey restoring 500-year-old Surp Sarkis Armenian Church During the program, Sahak Maşalyan, the Patriarch of Türkiye's Armenians, inspected the historic church and offered prayers. BSEC Secretary General due in Armenia on July 1 On July 1, the Secretary General of the Black Sea Economic Cooperation Organization (BSEC) Lazar Comanescu will pay a working visit to Armenia. |