Fora Bank opened a representative office in the Armenian capital Yerevan in June. Kommersant was the first to draw attention to the organization’s message. It is in the top 80 by assets.
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Fora Bank opened a representative office in the Armenian capital Yerevan in June. Kommersant was the first to draw attention to the organization’s message. It is in the top 80 by assets.
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The press service did not disclose any details about the bank’s work in the republic. Zaven Harutyunyan was appointed head of the representative office.
In particular, Fora Bank is developing cross-border money transfers, including to Armenia. Its partners include seven banks, including one of the largest banks in Armenia, Ameriabank, according to the bank’s website.
Fora Bank charges a 1% commission on transfers. Outgoing transfers are made only in Russian rubles. It is possible to send a transfer from Armenia from a card of a partner bank, regardless of the account currency (AMD, rubles, dollars or euros), with subsequent conversion to rubles.
Gennady Shinin, head of the B1 financial institutions cooperation department, believes that small banks will be more interested in entering foreign markets, as they see in it the potential for profitable business.
Author:
Karina Pardaeva
Source: RB
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