Our history and mission

HISTORICAL OVERVIEW

ARARATBANK was established through the reorganization of Haykap Bank operating in the Armenian financial market since 1991. In September 2005, ARARATBANK was reorganized into a closed joint stock company and in August 2007 - into an open joint stock company.

As of June 30, 2023, the authorized capital stock of ARARATBANK OJSC comprised 1,873,345 shares with a par value of AMD 9,366,725 K.

• Listed below are the majority shareholders with their shares of participation:

1. FLASH LLC - 68.36%

-Type of activity: Import and trade in fuel 

-Form of ownership: Non-state

2. Barsegh Beglaryan - 21.37%, and

• Indirect shareholder Sanasar Beglaryan - 9.94%  

ABOUT THE BANK

ARARATBANK offers financial services to natural and legal entities. The branch network of the Bank comprises 50 branches. As of 12.09.2024, the number of employees stood at 1087. The best international banking technologies and corporate governance practices function in the Bank.       

ARARATBANK is a member of the Union of Banks of Armenia and a member of Armenia Securities Exchange OJSC (AMX). The AMX membership enables the Bank to trade in all financial instruments available at the stock exchange.

Pursuant to the CBA Board Resolution No 1/723A from 17 July 2008, ARARATBANK OJSC was registered in the Insurance Agents Register and was issued a Registration Certificate № 25.

OUR MISSION

The Bank's mission is to contribute to the economic development of the country, exercising social responsibility for the benefit of the society and creating values for its shareholders, customers and employees.

OUR VISION

The Bank's vision is to function as a public Bank with a sustainable, wide and efficient branch network equipped with the latest international technologies, holding leading positions in SME lending, trade financing, investment and digital banking spheres.

OUR VALUES

1. Customers acquired over the years and provided with world-class products and services by the Bank,
2. Sustainable and reputable international and local shareholders with knowledge, capacities and abilities relevant to the development of the Bank,
3. Staff that due to its knowledge, competencies and commitment to the values ​​and mission adopted by the Bank is pivotal to the efficient and successful performance of the Bank,
4. Best international banking technologies tailored to the local environment,
5. International partners that offer their expertise and extensive experience to diversify funds attracted by the Bank and promote its further development.

The Bank strives for leadership in the banking system of Armenia with a view to contributing to а better quality of life and welfare for its customers, shareholders, employees, and indeed for all citizens of the Republic of Armenia.

Professional activities

• in the securities market:

In 2007, corporate coupon bonds - a new financial instrument in Armenia - were issued by ARARATBANK and were included in the A- and B-bond lists of the Armenia Securities Exchange. One of the most active participants in the securities market, ARARATBANK had twenty-eight consecutive issues of corporate bonds in 2007, 2008, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2022, 2023 and 2024, subsequently listed on the Armenia Securities Exchange. Two issues of corporate bonds were offered by the Bank in 2024.

ARARATBANK had 28 issues of corporate bonds quoted on the Armenia Securities Exchange, with 6 USD-denominated corporate bonds currently in circulation.

At the AMX AWARD 2023 held by the AMX Stock Exchange, ARARATBANK was recognized the Best Corporate Bonds Underwriter in Exchange's Corporate Securities Allocation System.

OUR SERVICES

• in the plastic card market:

ARARATBANK issues and services plastic cards of reputable local and international payment and settlement systems. ARARATBANK is a shareholder and fully-fledged member of Armenian Card company, an affiliated member of MasterCard and a fully-fledged member of VISA international payment system. An exclusive representative of Diners Club global payment system in Armenia since 2013, the Bank issues and processes Diners Club Young Professional and Diners Club Super Premium cards. The service network of the Bank comprises 50 branches, 1007 POS locations and 127 ATMs. The number of cards issued by the Bank amounts to 140 000. 

• in the online market:

In the face of new challenges and rapid development of information technologies, ARARATBANK considers digital transformation a strategic priority.

In 2017, the Bank launched a brand-new AraratMobile app, which, compared to the previous version, is equipped with a larger set of e-banking services, is more user-friendly and is accessible to other banks’ clients. The subsequent rollout of AraratMobile app came with a number of modifications, including:

• a new design installed in 2019,
• rebranding and new corporate style in September 2020,
• re-release of AraratMobile app featuring new services, better customer experience and faster performance.

In 2017, the Bank upgraded its official website, where a number of services were made available online, inter alia, utility payments, payment card orders, applications for deposit and individual safe deposit boxes. In 2021, the website was rebranded, introducing new services and improved features.

• in the international money transfer market:

ARARATBANK is a member of SWIFT international payment system. The Bank offers fast international remittances through Money Gram, Ria Money Transfers, Intel Express, Moneytun systems.

OUR PARTNERS

ARARATBANK cooperates with 13 reputable IFIs, inter alia:

• European Bank for Reconstruction and Development (EBRD); 
• Kreditanstalt Für Wiederaufbau (KfW);
• Black Sea Trade and Development Bank (BSTDB);
• Dutch development bank (FMO);
• European Fund for Southeast Europe (EFSE);
• responsAbility Global Microfinance Fund

Charter

License

Registration certificate