Conversebank of Armenia to hold joint action with Money Gram on March 1 – April 7

YEREVAN, February 20. /ARKA/. Conversebank of Armenia is to hold a joint action with Money Gram international payment system.

Clients are to get three presents while receiving remittances through Money Gram in any of Conversebank’s branches in the period from March 1 to April 7, the bank reported.

Conversebank joined Money Gram system on December 2, 2008. ‘’Conversebank’’ Closed Joint Stock Company was registered on December 20 1993. Since February 2007 Argentinean businessman of Armenian origin Eduardo Ernekian has been holding 95% of the bank’s shares. Armenian Apostolic Church owns the remaining 5%. Conversebank has 25 branches, including eight branches in Yerevan.

By the end of December 2008, the bank’s assets had totalled 71.9bln Drams, liabilities 58.7bln Drams, total capital – 13.1bln Drams, credit investments – 44.1bln Drams. Profit after tax was 2.1bln Dramas for the year 2008. ($1=305.41Drams). N.V. –0--