Discussion organised by Harvard Club
On December 5 the Chairman of the Management Board of Ardshininvestbank Mr. Mher Grigoryan participated in the panel discussion on Armenian banking industry, its current state and future prospects, organized by Harvard Club in cooperation with Forbes Armenia and American University of Armenia.
The students of American University and the members of Harvard Club were involved in the discussion as well.
ARDSHININVESTBANK STARTS SENDING TRANSFERS FROM ARMENIA TO NEW DIRECTIONS BY «UNISTREAM» SYSTEM
From December 3, 2013 Ardshininvestbank starts sending transfers to new directions by system «UNISTREAM».
Ardshininvestbank gives the said opportunity to each customer with affordable and competitive fees.
All this are towards new growing financial needs of our residences.
The fee of transfer pays only sender and it can be picked up instantly.
Ardshininvestbank in its head office and all branches served also Avers, IntelExpress, MoneyGram, RIA, Bystraya Pochta and CoinStar systems, which also gives competitive fees and wide geography of service points network.
Armenian-Russian inter-regional forum
Ardshininvestbank Management Board Chairman Mher Grigoryan participated in works of Armenian-Russian inter-regional forum in Gyumri.
Ardshininvestbank received the second credit tranche of USD 5.0 million from the American company “World Business Capital”
Ardshininvestbank received the second credit tranche of USD 5.0 million under the Loan agreement for USD 10.0 million signed with the American company “World Business Capital” (WBC) on 14th March, 2013, guaranteed by the U.S. Government's Development Finance Institution OPIC (The Overseas Private Investment Corporation).
The first tranche in an equal amount of USD 5.0 million has been successfully utilized by the Bank.
Like in case of the first tranche, these funds will be channeled to financing small and medium-sized enterprises (SMEs), as the Bank’s main target group.
Mher Grigoryan, Chairman of the Management Board of Ardshininvestbank, emphasized: “Actually the whole branch network of the Bank will be involved in this process, providing sub-loans with the interest rate from 10% per annum and a tenor of up to 5 years.”
“Ardshininvestbank” CJSC has reopened its “Zvartnots” branch in a new and a more comfortable venue
The branch is located in the Arrivals hall of Armenia International Airports CJSC.
The new location of the branch as well as its internal design have been tailored to serve the needs of the Bank’s customers and aim to provide a top-notch customer service.
The official reopening of the branch took place. Guests, partners, customers and the bank management were present during the ceremony. Congratulating the bank customers and guests on the occasion, the Chairman of Bank’s Management Board Mr. Mher Grigoryan mentioned:
“The reopening of “Zvartnots” branch is another step forward in the bank’s complex approach towards development and improvement of its branch network. We actively promote financing of both businesses and individuals and value high quality customer service. The expansion and modernization of the network of bank’s branches will promote its development in the above mentioned areas”.
The newly reopened branch offers its customers full range of banking services and operates 24/7.
New address of the branch ”Zvartnots”
From 4 Nov. the branch “Zvartnots” will function round the clock at the new address: Yerevan, arrival hall in the new building of Zvartnots International Airport.
Deposit "Guaranteed +" devoted to the International Savings Day
Following to the traditions Ardshininvestbank launch new term deposit "Guaranteed +" which is devoted to the International Savings Day.
The deposit are accepted starting from 2013. October 31 till November 8 including and has highly profitable interest rate.
The deposit term starts from 9 months and can be invested in AMD and USD currencies.
The deposit do not have limit on the minimum amount, so you can start to save small amounts and make replenishment during the deposit period.
With this proposal Ardshininvestbank aims to provide competitive service and products that meets to customer needs and are available for everyone.
Moody's affirms Ardshininvestbank's ratings, outlook changed to stable.
Moody's affirms Ardshininvestbank's ratings
Global Credit Research - 10 Sep 2013
Outlook changed to stable from negative
London, 10 September 2013 -- Moody's Investors Service has today affirmed Ardshininvestbank CJSC's Ba2 long-term local-currency deposit rating, Ba3 long-term foreign-currency deposit rating, and D- standalone bank financial strength rating (BFSR), equivalent to a baseline credit assessment (BCA) of ba3. The bank's Not Prime short-term local- and foreign-currency deposit ratings were also affirmed. The outlook on the bank's deposit ratings was changed to stable from negative, whilst the BFSR continues to carry a stable outlook.
The affirmation reflects the overall stability of Ardshininvestbank's credit profile, while the change on outlook on deposit ratings takes into account Moody's outlook change on Armenia's Ba2 government bond rating to stable from negative in August 2013. The sovereign ratings were also affirmed at that time.
For more details on the sovereign action, please see Moody's press release: https://www.moodys.com/research/Moodys-changes-outlook-on-Armenias-Ba2-rating-to-stable-from--PR_280344
The affirmation of Ardshininvestbank's D- standalone BFSR reflects Moody's assessment of the overall stability in the bank's credit profile, which incorporates the following aspects: (1) adequate capital level with an equity-to-assets ratio of 16.5% at end-H1 2013; (2) satisfactory asset quality as the volume of the bank's medium- and high-risk loans declined to 3.7% of the total loan book at end-H1 2013 from 6.9% at year-end 2012; (3) good profitability with a return on average assets (RoAA) of 1.99% for H1 2013, driven by robust revenues and moderate loan loss charges; and (4) an acceptable liquidity profile, with moderate funding concentration and a liquid assets buffer amounting to 31% of the bank's total assets at end-H1 2013.
Moody's also notes that despite the currently modest level of problem loans, Ardshininvestbank's highly concentrated loan book may come under pressure if economic conditions deteriorate significantly as risks to economic growth remain elevated in Russia and the EU -- i.e., Armenia's main trading partners.
The change of the outlook on the bank's deposit ratings to stable from negative was prompted by Moody's outlook change on Armenia's Ba2 sovereign ratings to stable from negative, announced on 20 August 2013. Ardshininvestbank is one of the largest banks in Armenia with a market share of 8.6% in total bank loans and 9% in resident retail deposits as of end-H1 2013. Given the bank's systemic importance, Moody's incorporates a moderate probability of systemic support in the bank's deposit ratings. As a result, Ardshininvestbank's Ba2 local currency deposit rating receives one notch of support uplift from its ba3 BCA. Ardshininvestbank's Ba3 foreign-currency deposit rating is constrained by the Ba3 country ceiling for foreign currency deposits in Armenia.
WHAT COULD MOVE THE RATINGS UP/DOWN
Given Ardshininvestbank's geographic concentration to its domestic market, any upward potential for the ratings is largely dependent on substantial improvements in its operating environment.
Ardshininvestbank's ratings may be downgraded if its asset quality weakens materially, thus challenging both its profitability and capitalisation.
The principal methodology used in this rating was Global Banks published in May 2013. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.
Headquartered in Yerevan, Armenia, Ardshininvestbank reported total assets of $492 million, shareholder equity of $88.8 million and net income of $10.5 million as of year-end 2012, according to its audited IFRS report.
For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.
For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this rating action, and whose ratings may change as a result of this rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.
Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.
Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating.
Armen L. Dallakyan
Vice President - Senior Analyst
Financial Institutions Group
Moody's Investors Service Ltd.
One Canada Square
London E14 5FA
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Yves J Lemay
MD - Banking
Financial Institutions Group
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Moody's Investors Service Ltd.
One Canada Square
London E14 5FA
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
© 2013 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.
From now on YSU Faculty of Law will host practicing lawyers to provide students with the opportunity of the direct communication.
Lawyers, working in various public and private institutions, will introduce students not only the existing issues in the field, but also the role of the lawyer in this all.
“We are beginning to implement a new function, the basis of which was laid down very long ago. One of the directions of our strategy presumes the provision with practical knowledge and skills, and we will start with a series of informal meetings with the representatives (managers) of similar organizations,” - says Dean of the faculty Gagik Ghazinyan.
The first guest of future lawyers was Mher Grigoryan, the Chairman of the Management Board of “ARDSHININVESTBANK” CJSC. Though he manages a financial institution, he is a lawyer, a graduate of YSU Faculty of Law.
“It seems that the profession of lawyer has no direct connection with the banking sector, with the exception of judicial cases, but nothing is like that. Banking business in any of its elements contains serious legal problems. The bank which is able to solve these problems, becomes more competitive and secure,” - said in the beginning of the lecture Mr. Grigoryan.
According to him, one of the main objectives in banking industry are legal services, sometimes even more important than the financial calculations.
“If bank provides loans without legal expertise, it will become a problem in a couple of months, regardless of client’s solvency” - he says.
He focused on our country’s banking legislation, recalling the 90s, when he had just graduated from YSU and started to work, when the legislation simply did not exist: “Today, the banking legislation of the RA is the most developed in the CIS.”
The lecture was followed by a discussion between students and the speaker.
As a result of cooperation between the faculty and a number of public and private institutions of Armenia, from now on, legal issues arising in these structures will be researched by students in their graduate works, master’s theses and dissertations.
ARDSHININVESTBANK CJSC AND PANARMENIAN BANK COOPERATION WAS ESTABLISHED
ARDSHININVESTBANK CJSC and PANARMENIAN BANK have launched their cooperation targeted on implementation of the programs for financing small and medium enterprises (SME) with export potential. The cooperation was established today by signing a Memorandum of understanding between the Managing Directors of these institutions.
Welcoming the cooperation with ARDSHININVESTBANK the CEO of PANARMENIAN BANK Vahram Nercissiantz noted: “Being a financial institution affecting on the development of enterprises, the collaboration between PANARMENIAN BANK and ARDSHININVESTBAN CJSC is complementary, which will provide the necessary synergy and new opportunities for financing of long-term funding export oriented projects, promoting economic growth of the country and enhancing the competitiveness of enterprises in foreign markets”.
Highlighting the importance of establishment of relations with PANARMENIAN BANK, on the occasion of signing the above mentioned document, the Chairman of Management Board of ARDSHININVESTBANK, Mher Grigoryan particularly mentioned: “Being one of the leading banks in the country, our efforts towards promoting the SMEs were continuous and will remain as such in the future. This collaboration is an additional stimulus for further developing that business direction”.
In scope of the Memorandum, this cooperation aims at expending the funding opportunities and the range of services for exporting enterprises, implementing long-term funding programs, resulting on strengthening of the competitive positions of the beneficiary companies in foreign markets, creating new job opportunities in those enterprises and economic development of the country as a whole.
FINANCIAL RESULTS OF ARDSHININVESTBANK FOR THE NINE MONTHS OF 2013
ARDSHININVESTBANK published its financial results for nine months of the year on 15th October, 2013. In spite of the growing competition in Armenian banking services market, the Bank continued the sustainable growth of its main financial indicators.
The dynamics of the Bank’s main financial indicators compared to the same period of 2012 according to the latest statement on comprehensive financial results is as follows:
Cost to income ratio (CIR) has improved by 2.6% reaching 45.1%;
Net profit was 27.6% higher, reaching AMD 4.1 billion;
Net interest income was 29.8% higher, reaching AMD 9.6 billion;
Net commission income was 39.8% higher, reaching AMD 2.9 billion;
Net operating income was 28.8% higher, reaching AMD 14.2 billion.
During nine months of 2013, net profit of the Bank totaled to AMD 4.1 billion, exceeding the same indicator for the previous year by over 1.3 times and registering the highest growth rate in the Bank’s history.
Net interest income for nine months of the year amounted to AMD 9.6 billion, which is 29.8% higher than the indicator of the same period of the last year. Net commission income increased by 39.8% compared to the same period of the previous year, making AMD 2.9 billion. Net operating income rose by 28.8% over the same indicator of the last year, totaling to AMD 14.2 billion.
By 1st October, 2013 the Bank’s cost to income ratio (CIR) - one of the main indicators of its profitability, was at 45.1%.
The Bank’s total assets as of 1st October, 2013 amounted to around AMD 262 billion, which equals to 31.9% growth since the beginning of the year.
As a result, the total client loan portfolio made AMD 166.1 billion by 1st October, 2013, reflecting a 23.5% increase since the end of 2012. The retail loan portfolio reached a new level of AMD 50.3 billion, growing by 13% and making 30% share in overall loan portfolio. The volume of loans to enterprises grew by 28.7% during the first 9 months and reached AMD 115.8 billion, making 70% of the Bank’s total loan portfolio. The share of loans with above 90 days overdue payments (NPL) in overall loan portfolio was merely 2.7% as of 1st October, 2013.
The Bank’s total capital - the main indicator of its stability, increased by 12.7% making AMD 40.4 billion, whereas profitability indicators - return on average equity (ROAE) and return on average assets (ROAA) made 14.5% and 2.4% respectively.
In the field of strengthening its collaboration with international financial institutions (IFIs), during the 9 months of 2013, the Bank was able to attract additional resources of USD 5 million from World Business Capital, USD 6 million from Asian Development Bank and EUR 1.8 million from Atlantic Forfeiting.
As of 1st October, 2013 the Bank’s client base comprised of 9,640 legal entities and 241,913 individuals, in aggregate 36% higher than at the end of year 2012. On the same date, the Bank’s sales network comprised of 308 service points (including ATMs and POS-terminals).
Meanwhile, the sustainable growth of the Bank has recently been affirmed by Moody’s Investors Service, which raised the outlook of the Bank’s ratings to “stable”.
The complete version of “ARDSHININVESTBANK” CJSC’s financial reports is available here (arm.).
FINANCIAL RESULTS OF ARDSHININVESTBANK FOR THE FIRST SEMESTER OF 2013
ARDSHININVESTBANK announced its financial results for the first semester of 2013 on July 15, 2013.
In spite of growing competition in Armenian banking services market, the Bank’s main financial indicators continue the sustainable growth. Here is the comparative dynamics of main financial indicators compared to the first 6 months of 2012 according to the latest statement of comprehensive income:
- Cost to income ratio (CIR) improved by 4.4% reaching 47.4%
- Net income was 53.3% higher than net income during the first 6 months of 2012 reaching AMD 2.1 billion,
- Net interest income was 41.6% higher, reaching AMD 6.2 billion,
- Net commission income was 14.2% higher, reaching AMD 1.8 billion,
- Net operating income was 33.3% higher, reaching AMD 9.0 billion,
As a result, ASHIB managed to keep and strengthen its leading positions in the Armenian banking system.
As mentioned before, Bank generate AMD 2.1 billion in net income during for the first semester of 2013, more than 1.5 times the similar indicator for the previous year, which is one of the highest growth rates in Bank’s history. Among the main factors behind net income growth were: the expansion of the loan portfolio, higher efficiency of risk management systems and bank operations.
In addition to solid financial performance, ASHIB continued its efforts towards strengthening its risk management and upgrading its operational systems.
Like before the Bank has the second largest branch network in the country.
Net interest income for the first 6 months of the year totaled to AMD 6.2 billion, which is 41.6% higher than first semester of the last year. This positive dynamics in Bank’s business efficiency was a result of Bank’s continuously improving business model.
The Bank earned AMD 1.8 billion in net commission income during the reporting period, 14.2% higher than the same period last year. By net commissions earned ASHIB is the absolute leader among its peer banks.
Net operating income of the Bank for the reporting period exceeded the same period of 2012 by 33.3%, amounting AMD 9 billion. In any national banking system such an incredible growth could be achieved by better targeting asset allocation structure and reaching those targets by increasing the share of high-yield assets (directing excess liquidity towards consumer loans).
By July 1, 2013 Bank cost to income ratio (CIR), one of the main indicators of bank profitability/efficiency, stood at 47.4%, which is 10.1% more favourable compared to 57.5% throughout the banking system, which means that cost management efficiency is of high priority for the management and is properly monitored.
Bank total assets as of July 1, 2013 totaled to AMD 233.3 billion, which is equivalent to 17.6% growth from the end of 2012. Along with the growth, the management focused on asset allocation efficiency.
As of July 1, 2013 customer loan portfolio amounted to AMD 152.1 billion reflecting 13% growth from the end of 2012. Development of the Bank retail business contributed to the sustainable growth of the loan portfolio. Loans to retail customers grew 12% reaching around AMD 52 billion or 34 percent of the overall portfolio. Corporate loans totaled AMD 100.5 billion or 66% of the loan portfolio.
This corresponds to around 14% growth during the first 6 months of 2013.
It’s worth mentioning that along with the growing loan portfolio ASHIB manages to maintain high asset quality, with 2.4% ratio of over 90 days non-performing loans (NPL) to total loan portfolio by the end of the first semester.
Bank equity, the main indicator of its stability, grew 7.7% growth during the first 6 months of 2013 to AMD 38.6 billion.
ASHIB’s return on average equity (ROAE) and return on average assets (ROAA) ratios stood at 11.2% and 1.9% respectively.
One of the main development factors for the Bank remains further enhancement of relationships with international financial organizations. Particularly, in the first semester of 2013 the Bank was able to attract around USD 11 million of additional funding (USD 5 million from World Business Capital and USD 6 million from Asian Development Bank) to be directed to SME financing.
Commenting on ASHIB’s reporting period results, the head of Bank Management Board Mr. Mher Grigoryan mentioned: “I believe the sustainable growth will continue further, thanks to the client oriented policy of the Bank. Constant growth of our client base indicates that we are on a right track”.
As of July 1, 2013 ASHIB’s client base comprised of 9,671 legal entities and 221,866 individuals, in aggregate 20% higher than 6 months before.
On the same date Bank’s sales network comprised of 324 service points, including, ATMs and POS-terminals.
The complete version of ASHIB financial reports is available here.
ARDSHINIVESTBANK WILL CONTRIBUTE AMD 100 MILLION TO “LUYS” FOUNDATION
For the fourth consecutive year, Ardshininvestbank makes a benevolent contribution to "Luys" Foundation, the main purpose of which is supporting Armenian students studying in the world’s leading universities. This year, AMD 100 million will be donated to the Foundation for the purpose of promoting their scholarship program.
Enabling a quality education for the youth and using the acquired knowledge and skills is the strategic task of each sustained business community. Considering the activity of the Foundation towards formation of intellectual capital for our country, Ardshininvestbank is making its further donation in supporting quality educational programs.
During the meeting with Jacqueline Karaaslanian, Director for Educational Programs of “Luys” Foundation and "Luys" alumni, the Chairman of the Management Board of Ardshininvestbank Mher Grigoryan, emphasized great importance of “Luys” Foundations efforts in preparing highly qualified specialists.
The management of Ardshininvestbank has expressed its readiness to continue and deepen the cooperation with "Luys" Foundation, facilitating startups initiated within the Foundation and providing employment opportunities to its graduates.
RESULTS OF BANK’S ACTIVITIES FOR THE YEAR 2012 ON THE BASIS OF AUDITED FINANCIAL STATEMENTS
On 30th of April 2013 ARDSHININVESTBANK has announced the results of its activities for the year 2012, on the basis of its audited consolidated financial statements in compliance with the IFRS. Notwithstanding the lasting volatility of the global economy and increasing competition pressures within the Armenian banking sector, the Bank has demonstrated a robust growth of its main financial indicators.
The dynamics of the main elements of the Profit and Loss statement for 2012 compared to the same period of 2011:
- Operational costs to income ratio (CIR) decreased by 3,9%, making 47,5%;
- Net profit reached the level of AMD 4,2 bln, which exceeds the same indicator of 2011 by 79,4%;
- Net interest income increased by 18,7%;
- Net operational income increased by 21,7%.
The above mentioned figures are the confirmation that ARDSHININVESTBANK continues holding leading positions on Armenian financial market.
The net profit of the Bank for 12 months of 2012 totaled to AMD 4,2 bln, exceeding the same indicator of the previous year by 1,8 times, which is the highest growth rate throughout the Bank’s history. Among the key contributors to the net profit growth was the increase of credit portfolio as well as improvement of both - efficiency of risk control systems and general operational efficiency.
In addition to the positive financial results, the Bank continued its efforts towards strengthening the risk management system and development of its operational system. As before, ARDSHININVESTBANK possesses one of the largest branch networks in the country - with the widest geographical coverage.
The net interest income for 12 months of 2012 totaled to AMD 10,4 bln, increasing by 18,7% compared to the same indicator for 2011. The growth of this figure is supported by constant diversification of the Bank’s business-model and confirms the efficiency of its business.
The net operational income increased by 21,7% compared to the previous year, making AMD 15,1 bln. Such growth rate, unprecedented for the banking industry of any country, is related to reaching the asset distribution targets, as well as rising of the share of high-return assets in total assets (i.e. distribution of excess liquidity in the market through lending).
The relation of expenses to income (CIR), which is one of the main indicators of the profitability of the Bank’s business, made 47,5% as of 1st January 2013. This result is by 10,7% better than the average of the banking system, which is 58,2%. The task of cost management remains a priority and is under permanent control of the Bank’s management.
The assets totaled to AMD 198,5 bln as of 1st January 2013, rising by 23,8%. The Bank’s management didn’t pursue the goal of increasing the volume of assets; meanwhile the target was to maximize the efficiency of the placement of existing assets. As a result, by the end of 2012, the credit portfolio of the Bank reached AMD 136,1 bln, which is 43,0% higher than the year-end figure for 2011. The development of the Retail segment of the Bank has contributed to the sustainable growth of the loan portfolio.
The Retail loan portfolio reached the level of AMD 46,2 bln, rising by AMD 15,6 bln during the year (2012) and making 34% of the total credit portfolio by the end of 2012.
The volume of loans extended by the Bank to enterprises (corporate clients), grew by AMD 25,3 bln, totaling to AMD 89,9 bln, which makes 66% of the Bank’s total credit portfolio.
It is worth mentioning that in addition to the existing positive dynamics of the loan portfolio, the Bank managed to significantly improve the asset quality. For instance, the share of more than 90 days overdue loans (NPL) in total loan portfolio made just 0,83% by the end of 2012.
The equity of the Bank - as the main indicator of its financial stability, grew by 13,7%, totaling to AMD 35,8 bln as of 1st January 2013.
The ratios of profitability on the average equity (ROAE) and on average assets (ROAA), made 12,6% and 2,4% respectively.
Deepening the cooperation with the international financial institutions is an important factor for the Bank’s development, in particular during 2012 the Bank attracted additional resources amounting to USD 8,0 mln from BSTDB and USD 6,0 mln from ADB.
Talking about the results of the activities for the last year, the Chairman of the Management Board of the Bank Mher Grigoryan mentioned: "The achievements of ARDSHININVESTBANK in 2012 confirm the transformation of the Bank into universal financial institution, offering its clients a wide spectrum of quality products. The permanently growing client base is reassuring that the Bank is on the right way".
As of 1st January 2013, the client base of ARDSHININVESTBANK counted for 9’700 legal and 175’350 physical entities, exceeding the same number for the year 2011 by 32%.
During 2012, the overall network of sales points of the Bank increased by 29 units, achieving a level of 330 units as of 1st January 2013 (including ATMs and POS terminals).
You can access the full version of audited consolidated financial statements of "ARDSHININVESTBANK" CJSC here
ARDSHININVESTBANK JOINS STATE STUDYING LOAN PROGRAM
From 25 April 2013, "ARDSHININVESTBANK" CJSC launches providing loans in the frame of state studying loan program. Loans will be provided to the students of Bachelor’s or Master’s degrees without substantiate income documents by the following conditions:
- annual 12 percentage from which 2 percentage will be subsidized by the Government and 3 percentage for the student showing excellent academic progress
- maximum period is 10 years
- maximum amount is 1.800.000.00 AMD for the entire study period, but not more than the annual tuition fee for the academic year and at the same time not more than 450.000.00 AMD
- the guarantor is the student’s parent or guardian
- no other fees are charged
- the loan will be approved and provided during two working days
- the following documents are required: passport (student’s and guarantor’s) and reference from the Higher Educational Institution.
During the study period, only loan percentages will be paid and repayment of loan principal amount will start from the next month of the students’ graduation.
The loan will enable the students to pay their tuition fees on time by the best credit conditions provided by "ARDSHININVESTBANK" CJSC. The loans will be provided to the students of state and non-state accredited Higher Educational Institutions in "ARDSHININVESTBANK" CJSC headquarters and in all 55 branches.
For additional information, you may call by the following number: 060 270404. Addresses of the branches can be found here
ARDSHININVESTBANK LAUNCHES PROVIDING LOANS TO SOCIAL PACKAGE HOLDERS
From April 2, 2013, "ARDSHININVESTBANK" CJSC starts providing loans to social package holders up to six fold of the amount of social package by 12-14 annual percentage depending on the Customer’s credit history. The loans will be given in non-cash in headquarters and in all the branches of "ARDSHININVESTBANK" CJSC, for the services provided by the companies cooperating with the Bank approved by the Government of RA (the list is in the web site of the Bank), as well as for the repayment of mortgage loans provided by the Bank.
The loan will enable the beneficiaries to time make targeted expenses at any time for purposes direction intended by the social package by using the amount for their own and their family members’ health insurance, tuition payment, repayment of the mortgage loan and for organizing rest in the territory of RA and Nagorno Karabakh.
It takes two working days to provide the loan. The required documents for loan are the passport, the document of the acquisition of the appropriate service - a contract or an invoice.
The beneficiaries of the social package may receive additional information by visiting any branch
of the Bank, the loan's web page
or by calling 060 27 04 04.
ARDSHININVESTBANK LAUNCHES A NEW CAMPAIGN IN COOPERATION WITH THE INTERNATIONAL MONEY TRANSFER SYSTEMS
From March 1 to April 30, 2013 Ardshininvestbank is launching a campaign for the customers transferring or receiving money. In the framework of the campaign each 1000th customer sending or receiving money via Avers, IntelExpress, MoneyGram, Coinstar, UniStream, Ria and Bistraya pochta money transfer systems will win AMD 50,000 (fifty thousand).
In cooperation with its partner payment and settlement systems, Ardshininvestbank has been offering a variety of campaigns over the years, during which the customers have been awarded with money, plastic cards, travel tours, etc.
As the deputy chairman of the management board - the director of retail business Karapet Gevorgyan mentioned: "We always tend to provide our customers with high quality services. Using the services of Ardshininvestbank our Customers will get a nice surprise along with the high quality services. As more than one thousand transfers are operated daily in Ardshininvestbank, we will have a winner of the mentioned amount each day in the framework of the launching campaign".
Seven transfer systems are currently operating at the existing 55 branches and at the head office of Ardshininvestbank: Avers, IntelExpress, MoneyGram, Coinstar, UniStream, Ria and Bistraya Pochta.
ARDSHININVESTBANK STARTS TO SERVЕ SOCIAL PACKAGE ACCOUNTS АSSIGNED TO STATE EMPLOYEES WITH AN UNPRECEDENTED OFFER OF CREDITING
On February 11 “Ardshininvestbank” CJSC launches service of the social package accounts assigned to a number of state employees by the RA government.
In this important undertaking the Bank figures as a participant and in order to increase the impact of the program will give loans up to five times of the amount of the social package with low percentage, intended exclusively for payment of services available by that package.
This will give an opportunity to the beneficiaries to make target payments any time preferred, namely for health insurance, studies, rest or repayment of mortgage loan.
The service will be available at all 49 branches of “Ardshininvestbank” CJSC operating on the territory of RA.
ANOTHER AWARD TO ARDSHININVESTBANK
Today Yevgeni Bibin, the CEO of the "Electric Networks of Armenia" CJSC, handed out an award to Mher Grigoryan, wherein the Bank was recognized as the "Best financial Partner" of the Company.
ARDSHININVESTBANK CJSC SERVES NON-CASH OPERATIONS OF THE YEREVAN STATE UNIVERSITY
From now on tuition fees of the Yerevan State University (YSU) will be paid only in non-cash at any of the Ardshininvestbank’s operating 55 branches in Armenia and Nagorno-Karabakh into a deposit account 247010000906 free of charge.
Payments done at any of the Ardshininvestbank’s branches will be transferred to the main deposit account of the Yerevan State University. By paying tuition fees at the Ardshininvestbank CJSC students will have no need to submit their receipt of payment to the University. It will be sent to the University by the Bank. Payment can be done by any individual, mentioning such data as the student's first name, last name, middle name, learning system, faculty, specialty and course.
The employees of Yerevan State University will be paid their salaries in non-cash as well. As mentioned Karapet Gevorgyan, Deputy Chairman of the Management Board-Director of Retail Business,-“Being consistent to the policy adopted by the Bank, we aim to create the best options for customers’ financial service. Non-cash operations for Yerevan State University are one of these steps, which provide new opportunities for the University students and staff”.
ARDSHININVESTBANK HAS BEEN RECOGNIZED AS THE BEST PARTNER FINANCIAL INSTITUTION BY THE FINANCIAL SYSTEM MEDIATOR
On January 24, 2013, the Financial System Mediator of RA celebrated its fourth anniversary of professional activity. During these four years, the Office incessantly awarded diplomas to the best partners of the previous year.
It should be noted that “Ardshininvestbank” CJSC has been announced as the best partner by the results of 2012. Piruz Sargsyan, the Financial System Mediator presented the “Best Partner” certificate to the representative of “Arsdshininvestbank” CJSC. This approves the high level of efficient cooperation between “Ardshininvestbank” CJSC and Financial System Mediator.
The award is based on a number of criteria, especially the degree of cooperation during a general overview of the requirements (fast submission of the documents by the organization, their entirety and the willingness of the representative of the organization to assist in the investigation of the case), the outcome of the reconciliation of the examined cases. As well as amiable approach to those customers whose demand is subject to rejection.
In person of MherGrigoryan, Chairman of the Management Boardof “Ardshininvestbank” CJSC joins to all the congratulations and greetings towards the fourth anniversary of the Financial System Mediator and at the same time gives regards for professional work and high appreciation of the Bank.
We hope that the efficient cooperation between “Ardshininvestbank” CJSC and Financial System Mediator will be continuous.
TERMINATION OF TEMPORARY RELEASE OF PAYMENT CARDS
We inform you that the "Armenian Card" Processing Center, which provides the issuance and service of the Bank’s ArCa, Visa, MasterCard payment cards is launching works on changeover to new software in order to significantly improve the quality of the service of the cards.
On this occasion, starting from 29th of January the above-mentioned company announces a temporary service outage of the new cards issuance, cards replacement, as well as the installation of new POS terminals and ATM activation in points of trade and service.
Let us mention that the cards already existing in circulation and those serving equipment will continue operating. However, in the company’s regular work may occur some failures (so-called “transitional period” problems) until the end of the process of the changeover to a new software system, which are unavoidable during such large-scale projects.
We make an excuse for any inconvenience caused. For additional information, You are welcomed to call by the following numbers: 060270404 and 060270505.
ARDSHININVESTBANK PROVIDES TRADE FINANCE OF MAZDA AND SUZUKI CARS IMPORT TO ARMENIA
"Ardshininvestbank" CJSC continuously and actively finances the international trade contracts of its clients, using documentary and guarantee operations.
In order to execute the Bank's customer "Top Motors" LLC transactions, "Ardshininvestbank" CJSC periodically issues documentary letters of credit in favor of Japanese Mazda Corporation, which enables Mazda cars' importations to Armenia since Januray, 2013. The letters of credit issued by "Ardshininvestbank" CJSC are confirmed by primary foreign banks which allows Armenian importer to defer the payments under the contract on favorable terms.
In order to execute the Bank's customer "Royal Motors" LLC transactions as well, "Ardshininvestbank" CJSC has also guaranteed the regular importation of Japanese Suzuki car's newest models to Armenia.
"Ardshininvestbank" CJSC considers its customers' trade finance transactions to have a significant potential and, based on each individual deal's structure, offers optimal financial schemes, that allow importers to import goods with deferred payment without diverting their own working capital.
About "Top Motors" LLC and "Royal Motors" LLC
"Top Motors" LLC is the official representative of Japanese Mazda Corporation, and "Royal Motors" LLC is the official representative of Japanese Suzuki Corporation in Armenia. The companies activities include car import and sale, and the companies' high-qualified specialists provide Mazda and Suzuki cars with qualified technical service, which is available at specialized service center in Yerevan, Davitashen, 4 district, 26/1 (neighbouring to the car salon).
REOPENING OF “ARDSHININVESTBANK” CJSC MASHTOTS BRANCH
From now on “Ardshininvestbank” CJSC Mashtots branch will continue its activity at a newly renovated comfortable environment, which is located in 38/1, Shiraz Str., Ajapnyak District, Yerevan. The Branch has moved to more comfortable premises which meet today’s standards of good customer service by both its location and modern interior and exterior design as well as interior complied with Ardshininvestbank’s new brand standards.
In addition to the ongoing renovation works carried out in the branch a number of measures have been taken with the view of providing efficient and quick customer service and fully equipping and modernizing office and front desk.
In January 21, 2013 was the opening ceremony of the new branch with the participation of the Bank Management and authorities of the Ajapnyak district along with the branch customers and the district residents.
Congratulating the customers and the staff of the Mashtots branch with the opening of the branch, Deputy Chairman of the Management Board-Director of Retail Business Karapet Gevorgyan noted, that the opening of “Ardshininvestbank” CJSC Mashtots branch is the next step of the branch network development and implementation of complex measures towards modernization and which will create more convenient and actual environment for customer service.
During 2013 - 2015 branch network optimization the Bank will have a fully renovated branch network according to the standards adopted by the Bank.
ARDSHININVESTBANK HAS FINANCED THE IMPORT OF JOHN DEERE AGRICULTURAL MACHINERY TO ARMENIA
"Ardshininvestbank" CJSC provides a wide range of banking services, offering clients comprehensive solutions for foreign trade transactions, using documentary letters of credit and guarantee operations.
In December of 2012, "Ardshininvestbank" CJSC has financed the import of first set of agricultural equipment manufactured by John Deere – the world’s leading manufacturer of agricultural and road construction equipment. The financing has been provided by issuance of documentary letter of credit which has been post-financed for 5 years by German Landesbank Baden-Wurttemberg (LBBW) against German export insurance agency Euler Hermes Deutschland AG coverage. The agricultural equipment’s delivery will be finished by Spring, 2013, and the entire financing will be equal to approximately 1.4 mln. Euros.
The importing agricultural equipment has high productivity parameters and is transferred on long-term leasing conditions to Bank’s existing and potential clients - effectively developing agricultural companies.
"Ardshininvestbank" CJSC considers Armenian agricultural sector to have a significant potential and by financing of such projects contributes to development of middle business in this sector.
During the project realization "Ardshininvestbank" CJSC has strongly collaborated with "CARD Agroservice" CJSC – John Deere’s official representative in Armenia. "CARD Agroservice" CJSC has acted as the coordinator of negotiation process and has direct participation during the project’s further realization.
About John Deere
The company has been established in USA in 1837. Today, Deere & Company is one of the world’s most successful machinery producing companies and the biggest manufacturer of agricultural and road construction equipment. John Deere has been named a Thomson Reuters 2012 top 100 Global Innovator.
ARDSHININVESTBANK STARTS SERVICING AVERS INTERNATIONAL MONEY TRANSFER SYSTEM
Since January 9, 2013 Ardshininvestbank launched its cooperation with "AVERS" – a new international money transfer system.
This new system offers a possibility of making remittances to and from CIS countries in U.S. dollars, euros and Russian rubles. The commission fee to be paid for such transactions is 1.3% of the transferred amount, which will only be charged from the sender. The respective amount can be paid out immediately after its transfer.
By introducing this new service, Ardshininvestbank aims at giving its customers the opportunity of making fast and affordable international money transfers based on best available conditions in the market",- emphasized Mr. Karapet Gevorgyan, Deputy Chairman of Management Board, Director of Retail Business, speaking about the importance of this initiative.
Along with 6 other international money transfer systems, namely - MoneyGram, Coinstar, IntelExpress, Unistream, Ria, Fast Post served by Ardshininvestbank, “AVERS” is available in all its branches.