Conversebank of Armenia to suspend servicing visa plastic cards at ATMS of Armbusinessbank as from may 15

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08.05.2009, 15:30

Conversebank of Armenia is to suspend servicing VISA plastic cards at ATMs of Armbusinessbank as from May 15, the press service of Conversebank reported.

YEREVAN, May 7. /ARKA/. Conversebank of Armenia is to suspend servicing VISA plastic cards at ATMs of Armbusinessbank as from May 15, the press service of Conversebank reported.

By that time, as per the agreement between the two banks about joint use of ATMs, VISA cards of Conversebank are serviced at ATMs of Armbusinessbank at the same rates as at ATMs of Conversebank.

As from May 15, 1% or at least 1,500Drams (or an equivalent in foreign exchange) will be charged for cashed amount while servicing VISA cards of Conversebank at ATMs of Armbusinessbank

‘’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 ten branches in Yerevan.

According to the preliminary information, by the end of March 2009, the bank’s assets had totalled 75.02bln Drams, total capital 12.7bln Drams, liabilities 62.3bln Drams, credit investments 44.06bln Drams, liabilities to clients 46.5bln Drams.

Currently the bank is offering payment cards of VISA system (Electron, Classic, Business, Gold, GIFT, MINI) and ArCa Classic payment cards. ($1=372.67Drams). N.V. –0--

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