Turnover in Armenia $658m. Market share over 50%, CBA says.


 According to the data issued by the Central Bank of Armenia, in 2007 UNIStream remained the number one money transfers company in the republic. Its market share exceeded 50%.

The CBA reported the amount of the inbound transactions via UNIStream increased 5% to 52,39% in 2007.

The volume of transactions reached $658 million against $413 million in 2007.

The growth took place quarterly throughout whole 2007. In Jan-March, the amount of transactions in the republic reached $93 million to increase to $139 million in April – June. The second quarter demonstrated $200 million, and the amount soared to $225 million in October-December.

“Armenia has always been and remains one of the most strategic corridors in the CIS. The republic is intensively integrating into the CIS economy and provides high number of labor migrants,” Souren Hayriyan, CEO for the company said.

“We plan to further step up our activity in Armenia to increase operational volumes and the market share.”

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