Ardshinbank

Ardshinbank
CJSC
Industry Banking, Financial services
Founded 2003
Headquarters Yerevan, Armenia
Key people
 Artak Ananyan (Chairman)
Products Credit cards, consumer banking, corporate banking, investment banking, mortgage loans
Increase AMD 5'691 mln. (2017)[1]
Total assets Increase AMD 568'273 mln. (2017)[2]
Number of employees
 1154 (2017)[3]
Website www.ardshinbank.am

Ardshinbank [4], is an Armenian bank. The full name of the bank is "Industrial Construction Bank" closed joint-stock company.

History

The bank was founded in December, 2002. In February 2003 it received a banking license no. 83 (dated 25.02.03).[5] 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.[6]

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 bank has a large branch network: 70 branches in Yerevan, the regions of Armenia and in Artsakh, and one representative office in Paris, France.[7][8][9]

Ardshinbank assigned ratings from two international rating agencies - Moody’s[10] and Fitch.[11]

Founders and Shareholders

Founders: “Rasco-Armenia” CJSC, “Center for Business Investments” LLC Shareholders: “Center for Business Investments” LLC, “International; Business Center” CO CJSC, physical persons. The sole beneficiary of Ardshinbank is Karen Safaryan.

Participation in financial market

The participant of the securities market based on open-ended, tripartite contracts between the Central Bank, the Ministry of Economy and Finance 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).[12][13][14][15]

Member of Union of Banks of Armenia, Armenian-Georgian Association of Business Cooperation, NASDAQ OMX ARMENIA,[16] 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.

Mergers and acquisitions

On October 7, 2016 the Financial Industrial Corporation "Region", 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.

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.

Awards and recognition

2005

  • Citigroup’s diploma of quality for executing dollar payments via Citibank New York[17]

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[18]

2010

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

2014

  • British magazine “The Banker” (The Banker Awards), "The Bank of 2014" (Bank of the Year Awards).[19]

See also

References

  1. ↑ KPMG: Armenian Banking Sector Overview - 2017 4th quarter results
  2. ↑ KPMG Armenian Banking Sector Overview - 2017 4th quarter results
  3. ↑ KPMG Armenian Banking Sector Overview - 2017 4th quarter results
  4. ↑ Ardshininvestbank renamed as Ardshinbank, launches re-branding process
  5. ↑ Ardshinbank banking license
  6. ↑ Ardshininvestbank renamed as Ardshinbank, launches re-branding process
  7. ↑ http://www.banks.am/en/banks/Ardshininvestbank
  8. ↑ Ardshinbank branch and ATM lists and map
  9. ↑ Ranking of Armenian banks by the number of branches
  10. ↑ Ardshinbank CJSC Moody's rates
  11. ↑ Ardshinbank CJSC Fitch rates
  12. ↑ International bonds: Ardshinbank (Industrial Construction Bank), 12% 29-Jul-2020, USD, еurobond information
  13. ↑ Irish Stock Exchange: Bookrunner and Lead Manager J.P. Morgan (The date of this Prospectus is 27 July 2015)
  14. ↑ Pennsylvania Treasury Department Report of Activities Pursuant to Act 44 of 2010, Appendix D - Securities Held by Funds (September 30, 2016)
  15. ↑ Ardshinbank successfully priced its debut offering of US$100mln eurobond due 2020
  16. ↑ NASDAQ OMX Armenia member investment companies and banks
  17. ↑ Ardshininvestbank provides high quality banking services
  18. ↑ Ardshininvestbank awarded MoneyGram certificate as Armenia's most reliable bank
  19. ↑ Ardshinbank - the Bank of the Year 2014 by Financial Times (“The Banker” magazine)
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.