History | ardshinbank

History

1. About bank

“Ardshinbank” CJSC was founded in December, 2002. In February 2003 it received a banking license no. 83 (dated 25.02.03). Initially the bank was named "Ardshininvestbank". In 2003 it has also acquired a significant portion of the assets and liabilities of OJSC "Ardshinbank" and "Armagrobank" CJSC together with their branch networks. In November 2014 it was rebranded into "Ardshinbank" CJSC. The bank is included in the TOP-3 of the Armenian banking system.

It is a universal financial and credit institution offering a full range of banking services. Among the priorities of the bank's activities are such as project financing of large corporate customers, primarily in the strategic industries and energy sector of Armenia, as well as lending to small and medium-sized businesses, emission and service of plastic cards, e-banking, international money transfers.

The only private entity in Armenia with assigned ratings from two international rating agencies - Moody’s and Fitch.

The participant of the securities market based on open-ended, tripartite contracts between the Central Bank, the Ministry of Economy and Finance of the Republic of Armenia and Ardshininvestbank, as well as the agent of government bonds market. The first private entity in Armenia to issue eurobonds in the amount US $100 million (in formats RegS/144A).

Member of Union of Banks of Armenia, Armenian-Georgian Association of Business Cooperation, NASDAQ OMX ARMENIA OJSC, settlement system of the RA Central Depository, affiliated member of Master Card Europay, principal member of Visa International payment system, shareholder of SWIFT International Financial Telecommunication System,   “Artsakh HEK” OJSC, full member and shareholder of “ArCa” processing company.

The bank has the largest branch network in the county: 63 branches in Yerevan, the regions of Armenia and in Nagorno-Karabakh Republic, and one representative office in Paris, France.    

Number of employees as of 31.07.18 – 1016.

2. Founders and Shareholders

Founders: “Rasco-Armenia” CJSC, “Center for Business Investments” LLC

Shareholders: "Arins Group" LLC (on 06.06.2017 “Center for Business Investments” LLC was renamed to  "Arins Group" LLC), “MBC” CJSC, physical persons

3. Membership and shareholdership

Member of Union of Banks of Armenia, Armenian-Georgian Association of Business Cooperation, “Armenian Card” CJSC payment system, NASDAQ OMX ARMENIA OJSC, Union of Armenian Mortgage Market Participants

Affiliated member of Master Card/Europay

Principal member of Visa International payment system

Shareholder of SWIFT system, “Armenian Card” CJSC, “Artsakh HEK” OJSC

Member of settlement system of the RA Central Depository

4. Participation in loan programs

Programs of German-Armenian Fund:

 - Recovering Energy Development Program
 - Sustainable Housing Finance Market Development Program
 - Small and Medium Entrepreneurship Development Program

Programs of the International Fund for Agricultural Development:

- Rural areas economic development program
- Marketing opportunities for farmers
- Agricultural reforms support program

Program of National Center for Small and Medium Entrepreneurship Support

"From Water to Market” program of Millennium Challenge Fund
Program of stabilization of economy in the framework of RF intergovernmental loan
National Mortgage Company
OFID, CSOB, IFC, LANDESBANK, ATLANTIC FORFAITING, KBC, WBC

5. Awards

2005

Citigroup’s diploma of quality for executing dollar payments via Citibank New York

2005/2006  

Diploma of the best dealer in managing domestic debt of the Ministry of Finance and Economy and the Central Bank of the Republic of Armenia

2009

Certificate of MoneyGram International money transfer system as the most reliable bank of Armenia

2010

 

2014

Citibank’s prize for high quality of money transfers in USD.
Commerzbank’s prize for high quality of money transfers in euro.

British magazine “The Banker” (The Banker Awards), "The Bank of 2014" (Bank of the Year Awards).

2016

The European Bank for Reconstruction and Development (EBRD) named Ardshibank as the “Most Active Issuing Bank in Armenia in 2016” under the EBRD’s Trade Facilitation Program (TFP). 

2017

Was recognized as the safest bank in 2017 by “Global Finance” American magazine

2017

Was awarded the Best Foreign Exchange Provider in Armenia for 2017 by “Global Finance” American magazine

6. Mergers and acquisitions

On October 7, 2016 the "Region" Finance Industrial Corporation CJSC, whose sole shareholder is Karen Safaryan, the well-known Russian businessman, the sole beneficiary and the Chairman of the Board of "Ardshinbank" CJSC, has acquired 100% shares of "Areximbank-Gazprombank Group" CJSC from its sole shareholder, the Russian Gazprombank. 

Later in accordance with the Armenian legislation has begun the process of merger of Areximbank to Ardshinbank. As a result of merger, the financial structure became the largest in Armenia, including by its capital, assets and branch network, and currently serves under the brand "Ardshinbank".

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