The Government of Armenia is going to include corporate bonds in the compulsory deposit security mechanism. For the personal deposits the compulsory component of the law has been effective since 2005.
Citi (the "Co-ordinator", "Bookrunner" and "Initial Mandated Lead Arranger") has successfully closed and signed a US$18 million syndicated term loan facility (the "Facility") for Ardshininvestbank CJSC in Armenia.
Internet services will dominate over the traditional telecom services (fixed line and mobile) in the coming years. Cable TV and Internet services have the best prospects for growth in Armenian telecom sector. These are the findings of the "Telecommunication in Armenia" research conducted by Ameria CJSC. The March 4 presentation covered the current state, challenges and development prospects of the telecommunication industry in Armenia. A total of 1,067 Yerevan residents aged 15-69 participated in the survey. The field work period was from December 2013 till January 2014.
Development of the mortgage lending market in Armenia is possible if a mortgage securities market is created in Armenia, said Tatevik Badalyan, Head of the Retail Business Department at VTB Bank (Armenia), when commenting on stagnation of the real estate market in Armenia to ArmInfo.
Areximbank-Gazprombank Group and Visa Company have launched contactless payments in Armenia introducing Visa payWave card. Areximbank has become the first Armenian bank to introduce contactless payments in the country. The first contacless transaction with Visa payWave card was made on 27 February at one of the stores of the Moskvichka chain in Yerevan. Manager of Visa Payment System for Caucasus Irina Kamkhadze made the contacless payment for a purchase.
Taking advantage of its monopoly in the market of online payment systems, the local Idram Company misleads users gaining extra profits from artificially created huge difference in the rates of exchange.
RESO insurance company is facilitating the procedure of provision of motor third party liability (MTPL) insurance payments and reducing the time of receiving the relevant written notification, the company's Marketing and PR Department told ArmInfo.
HSBC Bank Armenia, Ardshininvestbank and Ameriabank are still Top 3 banks of Armenia by net profits for 2013: 8 bln drams ($19.7 mln), 6.5 bln drams ($16 mln), and 6.2 bln drams ($15.2 mln), respectively. ACBA-Credit Aghricole Bank is on the 4th position with 5,1 bln drams net profits and INECOBANK ranks the 5th with 4.893 bln drams. VTB Bank (Armenia) is on the 6th position with an insignificant different - 4.891 bln drams.
Anelik Bank has brought in a new card credit product - "Simply-Quickly", which differs from the earlier introduced similar product of the bank by absence of a requirement of the mortgage security.
The Armenian Dram (AMD) devaluation in early 2014 is due to the Russian Ruble (RUR) depreciation, Artur Stepanyan, member of the Council of the Central Bank of Armenia (CBA), said at today's press conference when replying to ArmInfo's question.
Lydian International Limited (TSX: LYD) ("Lydian" or the "Company"), a gold-focused mineral exploration and development company, is pleased to announce that it has completed its previously announced bought deal offering, pursuant to which it sold 15,000,000 ordinary shares ("Ordinary Shares") of Lydian at a purchase price of $1.00 per Ordinary Share (the "Offering Price"), for aggregate gross proceeds to the Company of $15 million, the official website of the Company says.
Within the frames of financing of Yerevan Mall construction, VTB Bank (Armenia) has launched its own sales point at the largest trade center in Armenia. At the Yerevan Mall customers can not only get loans but also make use of advisory services.
Areximbank-Gazprombank Group has launched a campaign for corporate customers: all those having POS terminals or wishing to have ones will be given Visa Business cards.
According to the press service of Anelik Bank, for this purpose the bank will connect its branches to the Intel Express international money transfer system. Among the bank's partners are also the Anelik and MoneyGram systems.
ArmInfo's interview with Alexander Voronin, Chairman of the Board of “Anelik Ru” Ltd Subsidiary Commercial Bank
Particularly, Tigran Hovhannisyan, the President of the Drivers' Defense League NGO, told reporters that the government's legislative initiative stipulating insurance of cars irrespective of their registration date is absurd. Hovhannisyan said that a big number of drivers in Armenia have sold their old cars long ago, but are reluctant to pay 5,000 drams fines once in ten days. Actually, the fines may ready 100,000 drams.