ARMECONOMBANK

ARMECONOMBANK OJSC (formerly Armenian Republican Bank “Zilsotsbank” of USSR) was the first among the state-owned banks of the Republic of Armenia to be reorganized into a joint stock bank and registered in the Central Bank of Armenia on 26 August 1991 (registration N1).

One of the most important directions of the bank’s activities is the rendering of e-services (investment of internet technologies), as well as issue and service of plastic cards.

The bank is considered a member of the Society for Worldwide Interbank Financial Telecommunications (S.W.I.F.T), MONEYGRAM, Moneytun, Converse Transfer, Sigue Money Transfer, UniStream, RiaMoney, IntelExpress, and Golden Money Transfer payment systems, as well as an affiliate member of EUROPAY INTERNATIONAL payment system and a member of VISA payment system.

Currently, ARMECONOMBANK OJSC has a wide branch network consisting of 49 branches, 26 of which are located in Yerevan, 22 in the marzes of Armenia.

69.55% of the bank’s fully registered and paid share capital (AMD 9,534,433,080,000) is owned by the Sukiasyan family, who hold the ultimate control over the bank. EBRD owns 2.52% of the share capital and 27.93% is possessed by other shareholders.

As of 15 February 2018, ARMECONOMBANK OJSC has 868 employees.

As of December 31, 2019, the total capital of the bank is AMD 39 181 914 thousand, assets – AMD 280 478 563 thousand, liabilities – AMD 241 296 649 thousand.

ARARATBANK is represented by 50 branches and 132 ATMs all over the Republic of Armenia.

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