CBA authorizes VTB Bank to join Money Gram systemSeptember 8, 2009 - 19:00 AMT PanARMENIAN.Net - Central Bank of Armenia authorized VTB Bank (Armenia) to join Money Gram international payment system, CBA PR service reported.The resolution was passed at today's CBA sitting headed by CBA President Arthur Javadyan. Up to June 20, 2006 VTB Bank (Armenia) has operated under the name Savings Bank of the Republic of Armenia. Armsavingsbank was founded in 1923 with an aim to render banking services, particularly to attract savings and grant consumer loans. Since April 2004 one of the RF leading banks, Vneshtorgbank, became the shareholder of over 70% of Armsavingbank shares, thus Armsavingsbank became integrated into the network of Vneshtorgbank subsidiaries operating worldwide. In June 2006 Armsavingsbank was renamed to VTB Bank (Armenia) CJSC. In July 2007 VTB acquired 30% less one share from Mika Armenia Trading LTD company and became the sole shareholder of 100% shares of its subsidiary in Armenia, VTB Bank (Armenia) CJSC. Activity Program of VTB Bank (Armenia) envisages further expansion of Armenia's economy financing. Beside, the Bank constantly renews the range of services offered to retail business customers and enlarges its activities in most diverse spheres of business, from small enterprise servicing to expansion of collaboration with major corporate clients. 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 | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |