ARMECONOMBANK OJSC

ARMECONOMBANK OJSC, one of the system-builder banks in Armenia, has been playing its unique role in the development of the banking sector and the economy for already 30 years now. As a universal financial institution, the Bank offers its customers a comprehensive package of constantly updated banking services. ARMECONOMBANK OJSC was the first among the state-owned banks of the Republic of Armenia to be reorganized into a joint stock bank as it registered with the Central Bank of Armenia on 26 August 1991 (Banking License No. 1, Registration Certificate No. 0156). Throughout its activity, the Bank has attached great importance to the cooperation with reputable international institutions and effectively brought to life dozens of projects in line with the Bank’s mission and financed by EBRD, KFW, BSTDB, FMO, ADB, IFC, SYMBIOTICS S.A., Incofin I.M, DEG, BLUEORCHARD MICROFINANCE FUND S.A., FRANKFURT SCHOOL FINANCIAL SERVICES, EFA GROUP and other leading organizations. About 60% of the shared capital of the Bank is owned by Sukiasyan family, being ultimate supervisors of the bank, and about 40% is owned by minority shareholders, the number of which is about 6300. ARMECONOMBANK OJSC has a wide branch network of 54 branches, 32 of which are located in Yerevan, 22 in Armenian region.

The strengthening of its position in the market and the attraction of new customers along with the permanent focus on implementation of new digital technologies, improvement of customer service quality, and expansion of the scope of new, up-to-date banking services are among the main objectives of the strategy adopted by the Bank.