Drop in the total volume of money transfers was recorded in 2012, deputy director general of Areximbank-Gazprombank Group CJSC said.

“Our bank posted 9 % decrease in Jan-Oct 2012 as compared with the last year. Meanwhile, almost 42% growth of money transfers by physical persons was recorded this year,” Ruben Khachatryan said, conditioning the fact by the increase in the number of clients.

Dwelling on 2013, he voiced hope for 15% growth to be recorded in 2012.

Areximbank-Gazprombank Groupcurrently conducts international money transfers through such systems as Express Mail, CONTACT, MONEYGRAM, BLIZKO, ANELIK and UNISTREAM, with works aiming to join other payment systems from Russia, Georgia and Ukraine in progress.

“The volume of money transfers between Armenia and Russia totaled $13.864.271 in Jan-Oct 2012, with Armenia-U.S. transfers amounting to $625.627,” he said, adding that Ukraine comes third with $463.206 transfers.

In this context, Mr. Khachatryan linked the large volume of transfers from Kazakhstan and UAE to the temporary outflow of Armenians to those countries.

“The drop in the transfers from Ukraine and U.S. is conditioned by the currant economic instability in those countries,” he said.