GLOBAL FINANCE MAGAZINE RECOGNIZES ARMENIAN CONVERSE BANK BEST CURRENCY-EXCHANGING BANK

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13.10.2009, 01:13

Global Finance magazine has recognized Armenian Converse Bank the best currency-exchanging bank and gave it the 2009 award.

YEREVAN, October 12. /ARKA/. Global Finance magazine has recognized Armenian Converse Bank the best currency-exchanging bank and gave it the 2009 award.

The Converse Bank’s press office told ARKA News Agency that this is the fourth consecutive year the bank receives this award.

The award ceremony was held on October 6 in Istanbul.

Joseph Giarraputo, the publisher of the magazine, handed the prize Tigran Davtyan, the acting chairman of the bank’s board.

Converse Bank has six Global Finance awards on various nominations. The magazine’s choice is based on subjective and objective factors, such as amounts of deals, market position, qualities of services, competitive prices and new technologies.

Converse Bank was registered on December 20, 1993.
In February 2007, Eduardo Eurnekian, Argentine entrepreneur of Armenian descent, bought 95% of the bank’s shares.

The remaining 5% belong to Armenian Apostolic Church.
Converse Bank’s assets totaled AMD 77.2 billion and liabilities AMD 64.2 billion by June 30, 2009.

The bank’s total capital is AMD 13.04 billion, credit portfolio AMD 40 billion, liabilities to clients AMD 52.6 billion and net losses for Jan-June 2009 AMD 311.95 million. Converse Bank has 550 employees.

It has 25 branches in 13 cities in Armenia. ($1= AMD 385.84). -0-

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