ARMECONOMBANK

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).

The bank issues and provides services for international VISA and MasterCard, as well as domestic ArCa payment cards.

The bank gives an opportunity to manage accounts without visiting branches via AEB Online system and AEB Mobile application.

The bank operates the following money transfer systems for individuals: MONEYTUN, Ria Money Transfers, INTELEXPRESS, Golden Money Transfer (GMT), MoneyGram, UBPAY.

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.

Armeconombank has 54 branches (including the head office): 32 in Yerevan and the rest in the 22 regions of Armenia, and more than 118 ATMs in the entire territory of Armenia.

About 55% of the shared capital of the Bank is owned by Sukiasyan family, being ultimate supervisors of the bank, and about 45% is owned by minority shareholders, the number of which is about 8000.

As of December 25, 2024, the number of bank employees totaled 1,000.

As of December 31, 2024, the total capital of the bank is AMD 77,268,723 thousand, assets – AMD 527,659,043 thousand, liabilities – AMD 450,390,320 thousand.