PRIVATE MON EY TRANSFERS TO ARMENIA $270MLN IN 1ST QUARTER 2007. UNIStream IS LEADER, CBA SAYS.

24.05.2007

YEREVAN, May 21. /ARKA/.

In the 1st quarter of 2007, private money transfers to Armenia totaled AMD 97.1bln or about $270mln.
The Central Bank of Armenia (CBA) reports that an 8.97% increase in the volume of individual money transfers in AMD was recorded compared to the 1st quarter of 2006, with a 26.72% increase recorded in money transfers in terms of USD.

About 302,000 money transfer to Armenia were recorded in January-March 2007 - a 22.86% increase.

Express money transfer systems not requiring the opening of accounts intensified their activities in Armenia. In the 1st quarter of 2006 these transfers accounted for 52.92% of individual money transfers whereas it was 63.15% in the 1st quarter of 2007. As regards the number of transfers, this index is 87.16% and 93.24% respectively.
According to the information of the Central Bank of Armenia, the Unistream system is the leader, having both the largest number and volume of transfers. In the 1st quarter of 2007, a total of 94,560 transfers to the amount of AMD 28.9bln or $80.3mln, which is much more than the figures presented by other money transfer systems.
During the period under review, the number of money transfers effected by Armenia's citizens increased as well.

During the period under review, transfers through the banking system amounted to AMD 66.1bln - a 1.51% decrease. At the same time, in terms of USD the amount of money transfers increased by 23.57% up to $183.86mln, with a 19.12% increase in the number of transfers recorded (30,800). International systems of private money tr5ansfers accounted for 12.16% of the total volume and 59.86% of the total number of money transfers.

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