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MASTERCARD (MA)
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MasterCard : Converse Bank for holders of MasterCard conducts the second stage of promotion of non-cash transactions

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11/10/2017 | 11:51pm CET

Friday, November 10 2017 17:11:58

Karine Melikyan

ArmInfo. The second stage of Converse Bank's promotion for MasterCard cardholders has been launched. Within its framework, the Bank offers its current and new customers to become Converse Bank's MasterCard Standard and MasterCard Gold cardholders on preferential terms and take advantage of the opportunities offered by the promotion.

"Converse Bank and MasterCard are launching this promotion to encourage non-cash transactions. Within the framework of the promotion, same family members, aged 14 and older, will be provided with free-of-charge MasterCard payment cards serviced from one card account. Following expiry of the promotion term, a lottery drawing will be held among the families whose members have got additional cards serviced from one card account and have made with them 10 and more non-cash transactions for a total amount of AMD 200000 and bigger. The winners will get air tickets for a travel to Dubai for two persons, as well as commodity and monetary prizes", - we were told at the Bank, where they added that the term of the promotion was until December 6.

You can view the details of the promotion by following the link http://benefits.conversebank.am/hy/current-promotions/item/2017/10/05/mastercarddubai..tt/.

According to the Analytical Survey "Armenian Banks in Card Business" prepared by IA ArmInfo, Converse Bank is included in the TOP-5 both in terms of the total number of active cards, as well as in the number of Visa and MasterCard. By April 1, 2017, the bank has increased the total number of active cards by 21.5% - up to 157,4 thousand pieces. In the total number of active cards of the bank, Visa accounts for 30%, and MasterCard for over 13% (19.5 thousand units). The volume of plastic transactions Converse Bank increased by 10.5% in 2016 to 201.2 bln drams, having risen on this indicator from the 3rd to the 2nd position. As of April 1, 2017, the Bank has 103 ATMs and 637 own POS terminals, with annual growth of 5.1% and 26%, respectively. Converse Bank issues and also serves Visa and MasterCard on a par with local ArCa cards.

It should be reminded that Converse Bank has been operating in the Armenian market since September 1996. As of July 1, 2017, the Bank's shareholders are Advanced Global Investments LLc (arm of Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%, the Cathedral of the Mother See of Etchmiadzin - 5%.

(c) 2017 ArmInfo News Agency. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Sales 2017 12 448 M
EBIT 2017 6 803 M
Net income 2017 4 872 M
Finance 2017 1 065 M
Yield 2017 0,61%
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Capitalization 158 B
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Average target price 160 $
Spread / Average Target 7,6%
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NameTitle
Ajay Banga President, Chief Executive Officer & Director
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Edward McLaughlin President-Operations & Technology
Martina Hund-Mejean Chief Financial Officer
Silvio Barzi Independent Director
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