By preliminary data, 1 cu m of gas will cost the population of Armenia 156 AMD versus current 132 AMD, Head of the Tariff Department at the Public Services Regulatory Committee Garegin Baghramyan told media on May 23. He said that the Committee held discussions and calculated this tariff taken into account the state subsidies and other factors.

Following the rise of the Russian gas tariff for Armenia from the current $180 per 1,000 cu m to $270, ArmRusgasprom applied to the Public Services Regulatory Commission for increasing the gas tariff for the population by 67.4% - from the current 132,000 drams to 221,000 drams per 1000 cu m, and for the large consumers by 61.3% - from $243 per 1000 cu m to $392. The Government of Armenia is going to subsidize the Russian gas import price by 30%. However, the method of subsidizing will become clear after the negotiations with Russia, which is ready to export gas to Armenia for $180 per 1,000 cu m till the end of the negotiations.

The XIth International film festival "One shot - one minute" will be held in Yerevan on 2-9 June.

As president of the festival Gagik Kazare told Arminfo correspondent, more than 300 short films from 40 countries, including Argentina, Italy, Spain, Korea and Finland, will be presented at the festival. More than 100 films will be presented in the category "Cinema without border", and more than 200 films - out of contest.

The Centre for Comprehensive and Experimental Art has organized the festival, the key purpose of which is to open new interesting film makers and make their art
available to the wide circle of audience.

 Amnesty International Annual Report 2013: The state of the world's human rights negatively evaluates the situation with human rights in Armenia. Representatives of the organization visited Armenia in June 2012.

The report says that public attitudes were hostile towards topics which were perceived as unpatriotic.  Conditions in prisons were reported to amount to inhuman treatment.

The report recalls that President Sargsyan's Republican Party won parliamentary elections on 6 May. While freedom of expression, assembly and movement were largely unrestricted around the election, monitors reported widespread vote buying as well as instances of pressure on voters.

As regards freedom of expression, the report says: "Freedom of expression was largely unrestricted.  However, those expressing opinions perceived as unpatriotic or anti-nationalist faced widespread public hostility and occasionally violence. Police and local authorities appeared at times to be colluding in the attacks. They also failed to properly investigate or to publicly and unequivocally denounce such acts.  Civil society activists attempting to hold a festival of Azerbaijani films in Armenia were subjected to violent attacks and forced to cancel the event on two occasions. On 12 April, dozens of protesters blocked the venue of the film
festival, scheduled in Armenia's second city, Gumri. They physically assaulted Giorgi Vanyan, the organizer and chairman of the local Caucasus Centre for Peace-Making Initiatives, and forced him to publicly announce that the festival was cancelled. Festival organizers reported that the local authorities had harassed and used
psychological pressure to dissuade them from holding the event.

On 16 April, another attempt to hold the film festival in the city of Vanadzor at the Helsinki Citizens Assembly (HCA) office also prompted public protests and violence. Approximately 200 people - including students, political party members and veterans from the Nagorno-Karabakh war - gathered in front of the HCA office. They
forced their way into the premises, vandalizing office equipment, throwing eggs and rocks and injuring one member of staff. Police officers present throughout failed to intervene to ensure the safety of the staff members or to stop the violence. Despite the HCA's requests, additional police did not arrive until after the incident.
After an investigation, one woman was fined for throwing a stone at the building, but no thorough or impartial investigation took place. The authorities failed to condemn the violence.

On 8 May, a gay-friendly bar in the capital, Yerevan, was attacked.  Two people were caught on a security camera throwing Molotov cocktails through the windows. However, police reportedly only arrived at the scene 12 hours later to investigate the attack. Two young men were arrested as part of the investigation, but were bailed shortly afterwards by two MPs for the nationalist Armenian Revolutionary Federation - Dashnaktsutyun party (ARF). They condoned the attack, saying it was in line with "the context of societal and national ideology". Eduard Sharmazanov, spokesperson for the ruling Republican Party and Parliamentary Deputy Speaker was quoted justifying the violent attack in local newspapers."

The paragraph torture and other ill-treatment says that on 3 October, the European Committee for the Prevention of Torture published a report following their visit to Armenia in December 2011. It stated that "virtually none of the recommendations made after previous visits as regards the detention of lifers have been implemented". The report also noted that the poor conditions at Kentron Prison in Yerevan made it unsuitable for lengthy periods of detention. The
Committee found that the detention conditions of life- sentenced prisoners held at Kentron amounted to inhuman treatment.

As for conscientious objectors, the authors of the report say that by the end of the year, more than 30 men were serving prison sentences for refusing to perform military service on grounds of conscience.  Alternative civilian service remained under military control. On 27 November, the European Court of Human Rights, in its fourth decision against Armenia on conscientious objection, found that Armenia had violated the rights of 17 Jehovah's Witnesses in the case of Khachatryan and Others v. Armenia. The Court found that the rights of the Jehovah's Witnesses to liberty and security, as well as the right to compensation for unlawful detention, had been violated. They faced criminal charges and detention because they had left their alternative service when they realized that they were under military control.

By the end of 2013, Armenia will adopt a service life extension program for Metsamor nuclear power plant, Deputy Minister of Energy and Natural Resources of Armenia Areg Galstyan said at the 5th technical seminar of chief engineers at Inter RAO UES OJSC.

The minister said that program has been elaborated jointly with Rosatom specialists. The negotiations on the program are almost over. Simultaneously, a new nuclear power unit with 1000MW Russian reactor is to be built within 10 years. It is expected that the 'nuclear island' will be Russian. The turbine island and other systems will be determined on a tender basis. Russia will invest in its part of 'nuclear island.' As regards co-funding by Armenia, the minister said, the budget lacks funds, unfortunately. In this light, the country is so far negotiating with other investors for the Armenian part of the project.  Nevertheless, Russia is ready to issue loan to
Armenia under sovereign guarantees. In the meanwhile, Galstyan said, the year 2014 will be critical. "We have no time. We must take specific steps on construction of the power unit at least in 2014," the deputy minister said.

Two power units of Russian model pressurized water reactor-440, with capacity of 815 megawatt in total have been installed at the Armenian NPP. The first unit was put into exploitation in 1976, the second in 1980. At the beginning of 1989, the plant was closed down for political ideas, and then the second unit was reactivated because of acute energy crisis at the beginning of 1995. The share of NPP is 40%-50% of total energy generation in the country. On April 19 2012, the Armenian government approved the decision on extending the date of operation of the second power unit of the Armenian NPP. Minister of Energy and Natural Resources of Armenia Armen Movsisyan stated that the operation license of the second unit will expire on September 1, 2016. Since the construction of the new power unit is
delayed, it is necessary to extend the service life for another 3-4 years. By data of the ministry, the project will cost approximately 5 billion dollars. To raise foreign capital for the project, the Parliament of Armenia cancelled state monopoly on the right to possession of nuclear power units in 2006.

 The research conducted by the WWF-Armenia has discovered endangered species of flora and fauna in the areas adjacent to the Amulsar gold deposit.

WWF-Armenia Head Karen Manvelyan said at a press conference on Wednesday that the research has discovered a total of 4 rare species of mammals, 12 bird species, 2 reptile species (Armenian moufflon, bezoar goat, wild cat, brown bear, Caucasian snake, Armenian viper, Armenian gull, black stork, yellow wagtail, owl, pale harrier, hen harrier, peregrine, roody sheld duck, etc.). Manvelyan said that the discovered animals do not live in the area of the Amulsar gold deposit itself.   

Potentilla porphyrantha, an endangered plant species, has also been discovered in the area of Amulsar. The survey covered a total area of 10 thsd hectares. Specialists of the Institute of Botany of the Armenian National Academy of Sciences also took part in the research.  

Manvelyan thinks that the development of the deposit will affect the flora and fauna, first of all, the reptiles discovered in the territories adjacent to Amulsar. In addition, the hunting of predatory birds will decline and the animals will leave the long-inhabited places because of throngs and heavy machinery. The expert recalled that the Code on Mineral Resources of Armenia and the requirements of the European Bank for Reconstruction and Development  (EBRD) forbid mining activities in the sites where endangered species live.

Armen Stepanyan, the chief environmentalist of Geoteam CJSC, said that since 2008 the company has always been conducting environmental surveys on Amulsar, including a research of biodiversity, and will publish the relevant report in August 2013. Stepanyan added that the company's surveys have also discovered the potentilla porphyrantha. To protect this plant, a management plan will be worked out to prevent the negative impact on the species, he said. In addition, the survey discovered a chamois near Jermuk and a bear near the Saravan woods.

The environmentalist stressed that Geoteam's activity will meet the toughest European standards. As regards the Code on Mineral Resources, Stepanyan pointed out that Code speaks of the mining territory itself, not the adjacent areas. No endangered species have been discovered in the territory to be involved in mining activities.  

Geoteam's representative added that the company has involved several international companies in the environmental surveys. At the moment 10 international experts are exploring the territory of Amulsar to discover birds in the territories, since the company gives high priority to the international environmental requirements.   

To note, Geoteam CJSC was founded in Armenia in 2005. 95% of its shares belong to Lydian International Ltd. According to the preliminary data of the company, over 40 tons of gold will be mined from the Amulsar deposit. The International Finance Corporation (16.5% stake) and the EBRD (7.5% stake) are among Lydian International's shareholders.

Gazprom (Russia) has agreed to supply Armenia with natural gas for 180 USD per 1 thsd cu m before the talks on the gas prices are over, Armenian Minister of Energy and Natural Resources Armen Movsisyan said in Parliament on Wednesday. 

As a result, the gas price for Armenia is the lowest of the prices Russia offers its partners, Movsisyan said. He added that nothing has been said about it before, because wide coverage of the issue could have led to undesirable consequences and the price would have been more than $270, since other countries and companies also raise the same issue. Time was needed to make the best and most acceptable decision for Armenia. He stressed that the decision on the rise in gas prices has nothing to do with the past elections in Armenia. The Government has taken a decision to subsidize the gas price on the border by approximately 30%, however, the subsidizing methodology will be clear after the talks with Russia are over, he said.

The minister also stressed that though there is an Iran-Armenia gas pipeline, the republic cannot receive Iranian fuel owing to its big price component.

Following the rise of the Russian gas tariff for Armenia from the current $180 per 1,000 cu m to $270, ArmRusgasprom applied to the Public Services Regulatory Commission for increasing the gas tariff for the population by 67.4% - from the current 132,000 drams to 221,000 drams per 1000 cu m, and for the large consumers by 61.3% - from $243 per 1000 cu m to $392.

 The rumors about the 40 mln USD "air tax" debt of Armenia's national air carrier Armavia have nothing to do with the reality, Armenian Finance Minister David Sargsyan said in Parliament on Wednesday. 

To note, according to the rumors, over the past three years the company failed to pay nearly 35-40 mln USD "air tax" to the state. The minister pointed out that the air company really has debts and not only to the state. At the moment various creditors have applied to various courts to make Armavia carry out its payment obligations. The Armenian State Revenue Committee has also applied to the court. It is the courts that will determine the amount of Armavia's debts, the minister said.    

To note, Armavia has launched bankruptcy procedure and suspended its flights. It owes its creditors, including VTB Bank. The Bank sues Armavia and its owner Mikhail Bagdasarov, the owner of Mika Limited. According to different estimations, Armavia's debts range from 50 mln to 110 mln USD. In his recent interview with ArmInfo, Bagdasarov said that the statements about Armavia's 127 mln USD debt are exaggerated.  "We simply wanted to sell the air company for the specified amount, which contains the company's debts, investments, profit, as well as the amount that should be coming to me", he said.

The authorities use groundless pretexts not to recompense the damage caused by hailstorm to 10 villages in Armavir region, Armenia, says Pre-parliament oppositional public initiative in a statement disseminated Wednesday.

The authors of the statement slam the authorities for inaction and negligence towards the people's problems. The authorities doom the people to poverty and sufferings and make them leave the country, the statement reads.  Pre-parliament welcomes the civil disobedience by the residents of the above villages.  The oppositionists are sure that it is necessary to liquidate the reasons of the damage alongside with the consequences.

"Only through a united front we will be able to liquidate the reason of all the problems and sufferings of the people - Armenia's new status of colony and the government system that has become its tool. Therefore, we should fight to create a state of new quality," say the authors of the statement.

Today, the maximum buying rates at commercial banks of Yerevan were 416,5 drams for 1 dollar, 535,5drams for 1 EUR and 13,2 drams for 1 Russian ruble. The minimum selling rates stood at 416,5 drams for 1 dollar, 538,5 drams for 1 EUR and 13,3 drams for 1 Russian ruble.

 U.S. Geological Survey representatives have completed study of Armenia's shale gas resources, U.S. Ambassador to Armenia John Heffern said in response to ArmInfo's question, Wednesday.

He said that the U.S. specialists launched their work last year. Now, they are in Washington to process the data received. Thematic survey results will be presented to the Government of Armenia later, the ambassador said.

To recall, on August 3 2012, a memorandum of understanding was signed between the Armenian Ministry of Energy and Natural Resources and the Isle of Man-registered International Minerals & Mines Ltd. It is paving the way for the exploration of Armenia's shale reserves. Should large-scale commercial extraction proceed, Armenia's energy find could grant the country a measure of energy independence and, with it, newfound geopolitical freedom.

The Aug. 3 deal comes on the heels of another agreement between the Energy Ministry and the U.S. State Department in June to cooperate in energy exploration, commercialization and investment. This agreement plans "cooperative assessment and technical studies of Armenia's energy resources, including any potential shale gas resources." According to the Armenian energy ministry, the August agreement is the result of an international shale gas conference sponsored by the U.S. government, which has offered exploration grants to Armenia and other countries. Previous assessments suggest Armenia's hydrocarbon reserves are small. The US Geological Survey, which is identified in the June memorandum as a technical partner in the joint effort, identified 44 million tons of in-place shale oil reserves in the
Aramus region based on a 1994 study. The Armenian government, however, raised the figure in a 2005 report (.pdf), listing 17 million to 18 million tons of shale oil reserves in Ijevan, Shamut and Jermanis and 128 million tons in Dilijan, reports the World Politics Review.

 Iran is truly under sanctions of the USA and the world community, US Ambassador to Armenia, John Heffern, told journalists in Yerevan today when replying to the question if the price for the Iranian gas is high  because of the international sanctions.

He also added that as Iran does not demonstrate its intentions to refuse nuclear weapon production, and does not respect international obligations, it will still remain under the sanctions. Being a member of UN, Armenia observes these sanctions, and we welcome such a position of Armenia, the ambassador said.

To recall, on 22 May US Congress will revise new sanctions against Iran.

Ameriabank is expected to raise the retail loan portfolio 15% for the first half of 2013, Arman Barseghyan, Director for Retail Banking at Ameribank CJSC, said Tuesday.

Commenting on ArmInfo's question about retail services that are largely in demand in the regions, A.  Barseghyan said that demand in the regions fundamentally differs from the one in Yerevan. In particular, he said, deposits Ameriabank has provided in the regions significantly yield to the deposits provided in Yerevan. Consumer loans, SME finance are mainly in demand, amid low demand for mortgage loans.  In response to ArmInfo's question if the bank's 1.4 bln profits for Q1 2013 were from corporate or retail lending, the banker said that the share of corporate loans in the bank's loan portfolio is significant and the interest incomes from it are the highest. On the other hand, the share of deposits in retail portfolio is the highest.

As regards changes in the market of consumer lending in Armenia, he said that retail lending has become a priority for most banks.

"Banks began studying diversification of the consumer lending segment as a risk-reduction measure, which, in turn, has stiffened competition in the market. Consequently, there is demand for new bank products and services,' Barseghyan said.

He is sure that there is mainly price competition in the market of consumer loans, because the products of banks are not very different.

By data of the Financial Raking of Armenian Banks prepared by ArmInfo Agency, Ameriabank was among top three banks in terms of provision of crediting for Q1 2013.  The bank increased this indicator by 18.5% versus Q1 2012 and 10% for Q1 2013 to 168.3 bln drams. The share of consumer loans in total portfolio exceeded 17 bln drams or 10.7%, with a 9% growth for Q1. Loans to economy sectors totaled 134.2 bln drams, growing 14.7% versus Q1 2012 and over twofold for Q1 2013. The bank is the leader in terms of liabilities - a 66.7% growth versus Q1 2012 and 30% for Q1 2013 to 270.7 bln drams. Time deposits of the bank exceeded 90.2 bln drams or 34.3% of total liabilities as of April 1 2013, with a 30% growth versus Q1 2012.  Total incomes grew 18% amid 11% growth of expenses versus Q12012. Profits grew 45% over the year. The bank retained its position among top three banks in terms of profits.  Ameriabank CJSC  is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameria Group became the major shareholder of the bank in Nov 2011 - 99.99%. The bank serves 9 branches: 5 in Yerevan and by one branch in Kajaran, Dilijan, Vanadzor and NKR.

 Russian gas is more favorable for Armenia than the Iranian one from a commercial point of view, Ministry of Energy and Natural Resources of Armenia Armen Movsisyan told media, Wednesday, when commenting on the question about the Iranian gas as an alternative to the Russian one.

He said that Iran-Armenia gas pipeline was built to ensure reliable and stable gas supply to Armenia in force-majeur situations, but not to satisfy wide demand for gas in the country. The minister recalled that Armenia pays for the Iranian gas with electric power - 3kWh per/ 1 cu m.

"Iran-Armenia gas pipeline was built for a limited volume of electricity barter. We have no sufficient electric power production capacities, up-to-date and effective power plants and power transmission line to cover the entire demand for gas in Armenia via barter. Therefore, from a commercial point of view, the Iranian gas cannot be more favorable for Armenia than the Russian gas. In addition, Iran sells gas for a higher tariff than Gazprom offers Armenia," the minister said.

To recall, Armenia increased import of gas from Iran by 6% in 2012 to 488.3 mln cu m versus 460 mln cu m in 2011. In 2010 the country imported 400 cu m of Iranian gas.  Gas is supplied to Yerevan

Thermoelectrocentral CJSC in exchange for electricity - 1cu m of gas per 3kWh electricity. Under a relevant agreement, Iran can supply up to 1.1 billion cu m of gas to Armenia (nearly 3 mln cu m daily), and up to 2.3 bln cu m starting 2014. Armenia was to supply surplus electricity to the neighboring Turkey and Georgia, but the country has not yet supplied electric power to those countries. In addition, Armenia purchases not large volumes of cheap electricity from Georgia in specific seasons.

Armenia imported 2455.5 mln cu m of gas in 2012 in total versus 2069.10 million cu m in  2011. Import from Russia totaled 1967.2 mln cu m versus 1609.06 mln cu m in 2011.  The sole supplier of gas to Armenia is ArmRusgasprom CJSC. Gazprom OJSC holds an 80pct stake in the company, with the remaining 20pct belonging to the government.  Following the rise of the Russian gas tariff for Armenia from the current $180 per 1,000 cu m to $270, ArmRusgasprom applied to the Public Services Regulatory Commission for increasing the gas tariff for the population by 67.4% - from the current 132,000 drams to 221,000 drams per 1000 cu m, and for the large consumers by 61.3% - from $243 per 1000 cu m to $392.

 The USA is not involved in the negotiations between Armenia and Russia for the gas tariff. However, given the wide public response to the issue, the United States comes out for transparency of the upcoming deal, U.S.  Ambassador to Armenia John Heffern told media on May 22.  In this context, the diplomat said, diversification of energy sources is extremely important for avoiding price hikes. The diplomat urged the Armenian authorities to use renewable energy more actively to diversify the
energy sources and upgrade the energy security.

As for the Government's intention to subsidize the upcoming rise in the gas price by 30%, the ambassador said that the executive power should adopt the given decision in cooperation with the legislators and the people. Journalists asked the ambassador if the rise in the gas price is Russia's pressure on Armenia. John Heffern parried the question saying that Armenia and Russia are partners.

To recall, Minister of Energy and Natural Resources of Armenia Armen Movsisyan said in an interview with the local Shant TV overnight that upcoming rise in the gas price in Armenia may lead to a 30% rise in the electric power tariff in average.

The minister said that gas is a significant component in the electric power cost value. Therefore, a price hike is inevitable. TPPs generate 42% of totalelectric power generation in the country. The regulatory body is currently making more precise calculations and the final price will be announced later depending on the new gas price, the minister said.  Movsisyan explained that the electric power price for consumers has not been changed for a long period of time despite the rise in prices of fuel, materials, foreign exchange rate fluctuations and other factors. He added that gas price for the population will rise by some 20% and for corporate consumers - by 15%. However, negotiations with Gazprom OJSC are not over and the final tariff may be more moderate.

Following the rise of the Russian gas tariff for Armenia from the current $180 per 1,000 cu m to $270, ArmRusgasprom applied to the Public Services Regulatory Commission for increasing the gas tariff for the population by 67.4% - from the current 132,000 drams to 221,000 drams per 1000 cu m, and for the large consumers by 61.3% - from $243 per 1000 cu m to $392.

Since April 1 2009 Electric Networks of Armenia CJSC, which is also a Russian asset, has been selling electric power to the population at the daily tariff of 30AMD per kWh and night tariff - 20AMD per 1kWh.  Tariffs for the other final consumers are  17- 30 AMD/kWh. (The exchange rate of the Armenian Central Bank for May 21 was 417.08 AMD/1 USD).

At a guess, upcoming rise in the gas price in Armenia will lead to a 30% rise in the electric power tariff in average, Minister of Energy and Natural Resources of Armenia Armen Movsisyan said in an interview with the local Shant TV overnight.

The minister said that gas is a significant component in the electric power cost value. Therefore, a price hike is inevitable. TPPs generate 42% of totalelectric power generation in the country. The regulatory body is currently making more precise calculations and the final price will be announced later depending on the new gas price, the minister said.  Movsisyan explained that the electric power price for consumers has not been changed for a long period of time despite the rise in prices of fuel, materials, foreign exchange rate fluctuations and other factors. He added that gas price for the population will rise by some 20% and for corporate consumers - by 15%. However, negotiations with Gazprom OJSC are not over and the final tariff may be more moderate.

Following the rise of the Russian gas tariff for Armenia from the current $180 per 1,000 cu m to $270, ArmRusgasprom applied to the Public Services Regulatory Commission for increasing the gas tariff for the population by 67.4% - from the current 132,000 drams to 221,000 drams per 1000 cu m, and for the large consumers by 61.3% - from $243 per 1000 cu m to $392.

Since April 1 2009 Electric Networks of Armenia CJSC, which is also a Russian asset, has been selling electric power to the population at the daily tariff of 30AMD per kWh and night tariff - 20AMD per 1kWh.  Tariffs for the other final consumers are  17- 30 AMD/kWh. (The exchange rate of the Armenian Central Bank for May 21 was 417.08 AMD/1 USD).

Today the EU is holding the Association Agreement negotiations with Armenia, Ambassador Traian Hristea, Head of the EU Delegation to Armenia, said at the EU Information Centre on Tuesday. The Association Agreement will become a basis for further political and economic cooperation, he said.

The Ambassador believes that every country outlines its own path with due regard for its own interests. He said that Yerevan and Brussels are negotiating on closer cooperation in various fields. In this context, the Ambassador pointed out that not only the political but also the economic component is implied when the matter concerns European integration.

Traian Hristea said that the EU's relations with each of the 6 member countries of Eastern Partnership are particular and cannot affect the relations with the third party. He thinks that every country chooses its own level of cooperation with the EU: some countries prefer more active cooperation, some prefer passive one. 

When commenting on the media reports that Armenia has come across economic problems (i.e. rise in gas prices) owing to its reluctance to join the future Eurasian Union, the Ambassador said that if official Yerevan must observe some rules to carry out its activities in a certain economic field, then Yerevan should decide itself
whether it will be able to carry out activities within different international structures. He added that the EU has never made Armenia choose between European Union and Eurasian Union.    

He added that by signing the Deep and Comprehensive Free Trade Agreement, Armenia will receive an opportunity to enjoy 3 out of 4 basic economic freedoms guaranteed by the EU treaties: free movement of goods, services and capital. As regards the free movement of people, this freedom is now available for the EU member countries only.

Ameriabank has introduced a new credit package offering SMEs loans ranging from 5mln AMD to 50mln AMD and their equivalents in USD and EUR.

According to Retail Banking Director of Ameriabank Arman Barseghyan, the loan has no commission fee. The bank appraises and insures the security at its own expense. The borrowers are offered VISA/MC Business/Gold card. The borrowing procedure takes just two days, with very few documents required.

Those who solicit borrowings are rewarded with impersonal metallic accounts (1 gm of gold for a 5mln-12mln AMD loan and 2 gm of gold for 12mln-50mln AMD loan).

According to ArmInfo's Ranking of Commercial Banks of Armenia, in Q1 2013 Ameriabank had the biggest deposit portfolio in the country's banking system - 270.7bln AMD (66.7% more than in Q1 2012 and 30% more than in Q4 2012).

 Ameriabank has introduced a unique deposit.  This is a chance for our customers to "build" a deposit that fits them best, Retail Banking Director of Ameriabank Arman Barseghyan told journalists on Tuesday.

He said that a holder can close or replenish the deposit account at any moment. The rate depends on his choice. The deposit can be in any currency and can be opened for any period.

"We have raised the interest rate for AMD deposits so as to encourage our customers to save their money in national currency," Barseghyan said.

He said that the bank offers its depositors a credit line equivalent to 30% of their deposits, with the deposits being the security. Such loans are in the same currency as their respective deposits and have the same rates.

According to ArmInfo's Ranking of Commercial Banks of Armenia, in Q1 2013 Ameriabank had the biggest deposit portfolio in the country's banking system - 270.7bln AMD (66.7% more than in Q1 2012 and 30% more than in Q4 2012).

In March 2013 Ameriabank announced its intention to reduce the general tariffs of its services, Arman Barseghyan, member of Directorate, Director of Retail Banking of Ameriabank CJSC, said at a press conference on Tuesday. 

He said that the tariffs of the Bank's services have been differentiated depending on the location of the branches, particularly, in Yerevan or marzes. Thus, the Bank is going to stimulate development and growth of banking services sales in the marzes. The Bank has also reduced the rates of card products and the fee for the monthly and annual card servicing, he added.   

"The goal of these changes is to enhance the competitiveness and soften the terms of the Bank's services.  This is quite consistent, because as early as 2 years ago Ameriabank announced its universality and launched active retail lending", Barseghyan stressed. He added that the Bank is going to shortly introduce a number of new services and offers, including a radically changed package of loans for personal needs.

According to the Financial Rating of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo), in Q1 2013 Ameriabank's lending totaled 168.3 bln AMD, having increased by 18.5% as compared with Q1 2012 and by 10% as compared with Q4 2012. The share of consumer loans in the Bank's loan book exceeded 17 bln AMD, or 10.7% (almost 9% growth over Q1 2013).

To note, Ameria Group has been the majority shareholder of Ameriabank with a 99.99% stake since November 2011. The Bank has 9 branches. 5 of them are in Yerevan, the others are in the towns of Kajaran, Dilijan, Vanadzor and the Nagorno-Karabakh Republic.

While Azerbaijan is trying to find out how its votes in favor of Dina Garipova, the Russian participant in Eurovision 2013, disappeared, Europe has started speaking of the problems it came across when voting for Armenia.  

This year Armenia has been represented at Eurovision by the rock band "Dorians", which has gained the 18th place. Following the finals the rock performers started receiving messages from their fans living in Europe. In particular, the fans from the Netherlands and Belgium said that their calls and sms-messages in Armenia's favor failed either to be accepted or to be counted. To recall, earlier 15min.lt (Lithuania) disclosed the scandalous case of the voting mechanism. According to the journalistic investigation of 15min.lt, in Lithuania the votes in Azeri participant Farid Mamedov's favor were purchased for 20 EUR.

To note, the winner of Eurovision 2013 was Emmelie de Forest (Denmark). A total of 26 countries took part in the contest in 2013.