Ardshinbank Armenia News and Developments

Ardshinbank Armenia has been a significant player in the country's financial sector.

The bank has a strong presence in Armenia, with a network of branches and ATMs across the country.

In 2020, Ardshinbank Armenia reported a net profit of 10.5 billion Armenian dram, a significant increase from the previous year.

The bank's efforts to expand its services and improve customer experience have been notable, with the introduction of new digital banking platforms and mobile apps.

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Ardshinbank is committed to giving back to the community in Armenia. They donated 120 million AMD to the Hayastan All-Armenian Fund.

The donation was made during the 27th annual national charity telethon held on November 28, 2024. This event aims to unite the global Armenian community to address pan-Armenian issues.

Ardshinbank's donation will be allocated toward the construction of a residential settlement in the village of Balahovit in the Kotayk region. This project aims to support individuals and families affected by mobility challenges, disabilities, or health issues sustained during the 44-day war.

The project will be implemented in collaboration with the Soldier’s Home charitable NGO.

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Ardshinbank Armenia has a strong presence in the financial sector, with a network of over 100 branches across the country.

The bank offers a range of financial services, including loans, deposits, and payment systems.

One of the notable services offered by the bank is its mobile banking app, which allows customers to manage their accounts and perform transactions on the go.

With a focus on digital banking, Ardshinbank Armenia aims to provide its customers with convenient and accessible financial services.

For more insights, see: Banking in Armenia

Ardshinbank is a member of the Union of Banks of Armenia, the Armenian-Georgian Association of Business Cooperation, NASDAQ OMX ARMENIA OJSC, and the Association of Armenian Mortgage Market Participants. These memberships demonstrate the bank's commitment to collaboration and innovation in the financial sector.

The bank is also an affiliated member of MasterCard Europay and a principal member of Visa International payment system. This allows Ardshinbank to offer its customers a wide range of payment options and services.

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Ardshinbank is a shareholder of SWIFT International Financial Telecommunication System, which enables efficient and secure cross-border transactions. This is a significant advantage for businesses and individuals who need to conduct international financial transactions.

The bank is also a member of the Armenian Card CJSC, which facilitates the issuance and use of debit and credit cards in Armenia. This makes it easier for customers to make purchases and access their funds.

Ardshinbank is also connected to the settlement system of the Central Depository of Armenia, which ensures the smooth settlement of securities transactions. This is an important aspect of the bank's role in the Armenian financial market.

HSBC has agreed to sell its Armenian operation to Ardshinbank as part of its strategy to dispose of non-core businesses and tighten its global footprint.

The deal will see all HSBC Armenia staff and customer relationships transfer to Ardshinbank on completion, which is expected within the next 12 months.

Ardshinbank, Armenia's largest banking group, expects the acquisition to accelerate growth.

The acquisition will include HSBC Armenia's total assets of 290 billion Armenian drams ($963.2 million), customer loans of around 185 billion drams, and around 200 billion drams in customer deposits.

The transaction is subject to regulatory approvals, but terms of the deal will not be disclosed.

Ardshinbank has a history of strategic acquisitions that have expanded its reach and services.

In 2003, the bank acquired a significant share of the assets and liabilities of OJSC "Ardshinbank", including 24 branches.

Later that year, Ardshinbank purchased the main part of OJSC "Agrobank", including 35 branches and the rest of its infrastructure.

In 2016, the bank acquired 100% shares of "Areximbank-Gazprombank Group" CJSC from its sole shareholder, the Russian Gazprombank.

Ardshinbank Armenia has received numerous recognitions for its outstanding performance. One of the notable recognitions is the "Bank of the Year" award from the British magazine The Banker in 2014.

The bank has also been recognized as the "Best Bank in Armenia for the year of 2015" by the British magazine Euromoney. This is a testament to its commitment to excellence in the industry.

In 2016, Ardshinbank Armenia was awarded the "Most Active Issuing Bank in Armenia in 2016" under the European Bank for Reconstruction and Development's (EBRD) Trade Facilitation Program (TFP). This achievement highlights the bank's ability to facilitate trade and commerce.

The bank has also received several awards from Global Finance, including "Safest Bank in Armenia for 2017", "Best Foreign Exchange Provider in Armenia for 2017", and "Best Bank in Armenia for 2018". These recognitions demonstrate the bank's commitment to safety and excellence in foreign exchange and banking services.

Ardshinbank Armenia has also been recognized as the "Most Active Partner of Eikon Platform" from Thomson Reuters in 2018. This achievement highlights the bank's ability to leverage technology and partnerships to drive success.

Here are some of the notable awards received by Ardshinbank Armenia:

On October 25, 2018, the Black Sea Trade and Development Bank provided a USD 15 million loan to Ardshinbank, Armenia.

The loan facility has a maturity period of 5 years and will enable Ardshinbank to offer medium-term financing for SMEs capital expenditures and working capital needs.

The facility is expected to serve up to 100 SME clients and support around 3600 jobs in Armenia.

The SME sector development is a core priority of the Government of Armenia and a main objective of the BSTDB country strategy.

Generating up to 40% of GDP, SME sector development is crucial for Armenia's economic growth.

Ardshinbank is a leading Armenian bank and a longstanding partner of BSTDB, having cooperated since 2012.

BSTDB has provided a total of USD 28 million in facilities to Ardshinbank, including mortgage financing and two SME loan facilities.

Ardshinbank was established in 2002 and is the second largest bank in Armenia by most criteria, with 63 branches across the country.

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