Banking sector in Armenia, Georgia shows good growth rates

PanARMENIAN.Net - In Armenia, about 1 million bank cards have been issued, alongside 3,195 POS terminals and 778 ATM units installed.

The number of POS terminals in Georgia totals 10,286 units, ATM stations - 1,512, and bank cards - about three million.

Azerbaijan, a country with a population of over 8 million, shows the following results: it has 7,988 POS terminals, 1,992 ATMs and slightly over 4 million credit cards.

Despite the difficult post-crisis period, the banking sector shows good growth rates in Georgia and Armenia, on average 15%.

INPAS Company (Innovative Payment Solutions), which is a supplier of technological solutions for acquiring networks, held a conference from June 15-17, 2011, “INPAS-Event 2011” in Batumi, Georgia.

The conference brought together members of the banking market from the South Caucasus. It was visited by representatives of Georgian, Armenian, Azerbaijani banks, as well as by companies that supply the host solutions and acquiring equipment, The Financial reports.