Artsakhbank is an
Armenia
Armenia, officially the Republic of Armenia, is a landlocked country in the Armenian Highlands of West Asia. It is a part of the Caucasus region and is bordered by Turkey to the west, Georgia (country), Georgia to the north and Azerbaijan to ...
n
bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
with headquarters in
Yerevan
Yerevan ( , , ; ; sometimes spelled Erevan) is the capital and largest city of Armenia, as well as one of the world's List of oldest continuously inhabited cities, oldest continuously inhabited cities. Situated along the Hrazdan River, Yerev ...
. As of 31 August 2023, the bank has 7
branches
A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins.
History and etymology
In Old English, there are numerous words for branch, includi ...
in Yerevan.
History
The bank was established on 12 February 1996. On 6 November 1996 Artsakhbank, Closed joint-stock company was transformed into Artsakhbank, Open Joint-Stock Company, according to the resolution of the Bank's Shareholders General Meeting. On 24 June 2001, Artsakhbank, OJSC, was reorganized back into Artsakhbank, Closed joint-stock company (CJSC).
The bank is a shareholder of Armenian Card (ArCa) and a full member of
ArCa the Armenian national payment system, a member of
Europay/
MasterCard international payment system, and a member of
SWIFT
Swift or SWIFT most commonly refers to:
* SWIFT, an international organization facilitating transactions between banks
** SWIFT code
* Swift (programming language)
* Swift (bird), a family of birds
It may also refer to:
Organizations
* SWIF ...
system.
Artsakhbank is a member of international money transfer systems, such as
MoneyGram
MoneyGram International, Inc. is an American interstate and international peer-to-peer payments and electronic funds transfer, money transfer company headquartered in Dallas, Dallas, Texas. It has an operations center in St. Louis Park, Minnesota, ...
, Migom, Leader, and Anelik. The bank has correspondent relations with 25 banks, both local and foreign.
Operations
The bank serves 43,787 customers, of which 41,427 are individuals.
The bank has 373 employees, as of 31 August 2023. As of the same period, the bank's total equity came to AMD 8 960,358mln (USD 24.7mln), total assets - AMD 52 618,110 mln(USD 145.2mln) and liabilities - AMD 43 657,752 mln (USD 120.5mln).
The bank also operated 11 branches across what was once the
Republic of Artsakh
Artsakh ( ), officially the Republic of Artsakh or the Republic of Nagorno-Karabakh ( ), was a breakaway state in the South Caucasus whose territory was internationally recognised as part of Azerbaijan. Between 1991 and 2023, Artsakh cont ...
until the
dissolution of Artsakh in 2023.
See also
*
Armenian dram
The Armenian dram (; Armenian dram sign, sign: ֏; abbreviation: դր.; ISO 4217, ISO code: AMD) is the currency of Armenia. It was historically subdivided into 100 luma (). The Central Bank of Armenia is responsible for issuance and circulation ...
*
List of banks in Armenia
This is a list of banks in Armenia.
Central bank
* Central Bank of Armenia
Commercial banks
As of 4 November 2024, there are 18 commercial banks operating in Armenia. This includes:
* Ameriabank opened in 1910 as the Yerevan branch of the C ...
*
Economy of Armenia
The economy of Armenia grew by 5.9% in 2024, according to estimates by the International Monetary Fund, with total output amounting to $25.5 billion. GDP contracted sharply in 2020 by 7.1%, mainly due to the COVID-19 recession and the Second Nag ...
*
Economy of the Republic of Artsakh
References
External links
*{{Official website
Banks of Armenia
Banks established in 1996