Converse Bank on its 25th anniversary launched a new deposit -  "Converse 25"

ArmInfo.Converse Bank, on the occasion 25th anniversary of its founding, offers a new deposit - "Converse 25". As the Bank's press service explains, the uniqueness  of this type of deposit consists in the fact that in case of early  termination the depositors do not are deprived of the accrued  interest.

According to the source, the term of the "Converse 25" deposit is set  at 25 months, with a higher interest rate from the 13th month than in  the first year. In case of early termination of the deposit, the  interest is paid to the client at the interest rate applicable at the  time of making the deposit (for 1-12 months). These are the main  advantages of this type of deposit compared to other similar offers.

The Bank's message also notes other advantages of the "Converse 25"  deposit: the possibility of partial write-off of funds from the  principal during the whole term of the deposit; a higher interest  rate compared to similar offers on the market.  In the near future,  Converse Bank will make new profitable offers dedicated to the 25th  anniversary of its activities.

More detailed information is available on the Converse Bank website  at https://www.conversebank.am/hy/converse25/

According to the Financial Rating of the Armenian Banks, on July 1,  2018, prepared by IC ArmInfo, Converse Bank enters the TOP-5  portfolio with 112 billion drams ($ 232.2 million), with an annual  growth of 21.5%, with the growth of the overall market portfolio only  by 2.7%. Convers Bank's term deposits portfolio accounts for 47.4% of  deposits of natural persons, with an annual increase in absolute  value of 6%. In the total time deposits on the market, the share of  Converse Bank's portfolio is 6.4%, while in the total liabilities of  the Bank the share of term deposits is 51%. It should be reminded  that Converse Bank has been operating in the Armenian market since  September 1996. The Bank's shareholders are Advanced Global  Investments LLc (hand-Eduardo Ernekian) - 80.94%, HayPost Trust  Management B.V. - 14.06%, the Cathedral of the Mother See of  Etchmiadzin - 5%. The Bank's branch network has 34 branches, out of  which 13 are located in Yerevan, 20 - in the regions of Armenia and 1  - in the NKR.