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18.06.2015    Ardshinbank is the only private entity in Armenia with assigned ratings from two international rating agencies (Moodys and Fitch)


mba12 On 17th June, 2015 Fitch rating agency assigned Ardshinbank CJSC a B+ Long Term Issuer Dafault Rating with Negative Outlook.
The rating matches the one published for the Armenian Republic, being the highest possible that an Armenian private entity can qualify for.

The respective press release by Fitch can be accessed at the following web link: www.fitchratings.com/gws3.0/fitch-home/pressrelease?id=986556

To be noted, that Ardshinbank CJSC is the only Armenian Private Company having the internationally recognized and reputable Moody’s and Fitch rating.

08.05.2015    The Abovyan branch of Ardshinbank CJSC was reopened

The opening ceremony of the renovated Abovyan branch of Ardshinbank CJSC took place on May 7, 2015 in Abovyan, 1/2 August 23 street. The Chairman of the Management Board Mr. Mher Grigoryan congratulated the branch employees, customers and guests on occasion of the branch opening.
In particular, he noted: "The launch of the renovated Abovyan branch is the next stage of the program of development and improvement of the branch network of the bank."

opec opec
A number of complex activities aimed at optimization of customer service procedures, modernization and full technical re-equipment of working places and sales points were carried out, as well as the branch interior was brought in compliance with the brand style of the Bank.

Note that Ardshinbank CJSC is traditionally among the leaders of the banking system of RA by the key financial indicators and its branch system comprising 55 branches is one of the largest in the country.

04.05.2015    New address of the branch Abovyan

On 4th May 2015 Abovyan branch operates at the new address: 1/2 building, 23 Ogostosi str., Abovyan city.

29.04.2015    On 28.04.2015 Annual General Meeting of Shareholders of Ardshinbank CJSC approved annual financial statements of Ardshinbank CJSC for 2014 financial year, as audited by Ardshinbank CJSC’s external auditor KPMG-Armenia CJSC.

The complete versions of Ardshinbank CJSC’s annual reports are available here .



mba12 ARDSHINBANK published its financial results for the first quarter of 2015, continuing to demonstrate a sustainable growth.
By the results of Q1 2015, the Bank has improved its position among the top three of the banking system ranking the second in terms of total assets, loan portfolio, total liabilities and deposits from customers and the first by the loan portfolio growth indicator.
The comparative dynamics of the main financial indicators for Q1 2015 compared to the end of the year 2014 is as follows:

Indicator As of 31/03/15
(AMD, billion)
(AMD, billion)
Growth/decline rate
Assets 370.2 3.8 1.0%
Loan portfolio 239.1 19.2 8.7%
Loans to individuals 78.6 14.5 22.6%
Total Capital 48.3 1.2 2.3%

As of Q1 2015 net profit of the Bank amounted to AMD 782.7 million.
By results of Q1 2015, the ratio of non-performing loans to gross loans (NPL Ratio) has decreased by 0.1% totaling to 2.9%.
During Q1 2015 the Bank attracted additional $16 million from international financial institutions.

The complete versions of Ardshinbank CJSC’s financial reports are available here.


Starting from 03.04.2015 Ardshinbank offers its customers 2 new money transfer systems «Best» and «ConversTransfer», which are served in 56 branches of the Bank on the territory of RA and Nagorno-Karabakh.
«Best» and «ConversTransfer» systems allow customers to send and receive money over CIS countries in US dollars, Euros and Russian rubles.
Due to a special agreement reached with the system «Best» it is possible to transfer money from Russian «United National Bank» LLC to Ardshinbank with 0% interest rate.

Implementation of new systems and the ability to make transfers at preferential rates are designed to create additional facilities and meet the growing demand of the population toward financial products.
Receiving of the transfer is free of charge for Receiver and it is available immediately after the transfer has been made.
By launching «Best» and «ConversTransfer» systems Ardshinbank collects all the leading systems in one place, serving 9 systems simultaneously - Avers, IntelExpress, Sigue, MoneyGram, Anelik, UniStream, Ria, Best and ConversTransfer, which also offer competitive prices and wide geography.

Addresses of the branches of Ardshinbank CJSC can be found by the following link

Ardshinbank has 50 branches in Armenia, 6 in Nagorno-Karabakh and a representative office in Paris.


Ardshinbank and the OPEC Fund for International Development (OFID) signed a US$10 million loan agreement on March 31, 2015 in Vienna. The agreement was signed by Mr. Suleiman Jasir Al-Herbish, the Director-General of the OPEC Fund for International Development and Mr. Mher Grigoryan, the Chairman of the Management Board of Ardshinbank. The new facility will be used for financing the construction and operation of small-scale hydropower plants (SHPPs), run by small- and medium enterprises in Armenia. The Bank and the Fund have been cooperating since 2010, and the total volume funds under management have reached US$ 20 million, following the signing of this agreement.

opec opec
Speaking at the signing ceremony held at OFID’s headquarters, Mr. Grigoryan mentioned that strategic importance of hydro energy development in Armenia cannot be underestimated, given the importance of having alternative sources to meet the growing demands of Armenian economy. “I do highly appreciate the fact that the funds extended by OFID will contribute to the development of the Armenian energy sector, by facilitating greatly the access to long-term funding for SMEs. This agreement is yet another proof of successful cooperation between OFID and Ardshinbank, which, I have no doubt, will be of mutual benefit and has sound development prospects”.

Mr. Al-Herbish, in turn, expressed his deep satisfaction for having another opportunity to support development of economy and energy sector of Armenia. “During my visits to Armenia I was convinced of the importance of the energy sector there. I am delighted to have this opportunity to contribute to the development of the renewable energy through promotion of small scale hydropower projects”.

Established in 2002, Ardshinbank is one of the leading banks in Armenia and has a large distribution network with over 55 branches all over the country and a strong SME customer base. For further information please call 59-04-04.

The OPEC Fund for International Development is the development finance institution established by the Member States of OPEC in 1976 to contribute to the economic and social development and provide financial support to the developing countries.
You can find more information on OFID at www.ofid.org:

23.02.2015    ARDSHINBANK is recognized as a Best Exchange Member in Government Bonds Market

“Ardshinbank” CJSC is awarded the “NASDAQ OMX” OJSC “Best Exchange Member in Government Bonds Market” award.

award The award was presented to Ardshinbank’s General Treasurer, Movses Eloyan, by the "NASDAQ OMX" OJSC CEO Konstantin Saroyan, during the solemn ceremony, held on 20th of February. This award is granted once a year. According to the results of 2014, the nominations were as following: “Best Exchange Member in Government Bonds Market”, “Best Exchange Member in Credit Resources Market”, “Best Exchange Member in Corporate Securities Market”, “Best Exchange Member in Foreign Exchange market”, “Best Exchange Member in the repo market and swap transactions”, “Best Exchange member 2014”.
Note, that the Ardshinbank was nominated in four categories. As the best member in Government Bonds Market, according to the results of 2014, “Ardshinbank” CJSC received the incentive award, which implies a visit to any exchange office of NASDAQ OMX or attendance to any international conference, for one of the Bank’s commercial participants.

Note, that Ardshinbank has previously received "The Best Exchange Member in Credit Resources Market" Award from NASDAQ OMX Armenia Exchange. According to main financial indicators, the Bank is traditionally among the leaders of the Banking system of the RA. Today, the branch network with its 55 branches, is one of the largest in the RA.



mba12 On 20 January 2015, ARDSHINBANK published its preliminary financial results for the year 2014, continuing to demonstrate a sustainable growth.
By results of the year, the Bank has strengthened its position among the top three of the banking system by all key indicators. Net profit income for the year 2014 has been AMD 4,2bln.
The comparative dynamics of other main financial indicators for 2014 compared to the year 2013 is as follows:

Indicator As of 31/12/14
(AMD, billion)
(AMD, billion)
Growth/decline rate
Assets 369.1 99.8 37.0%
Loan portfolio 220.1 47.9 27.8%
Customer funds 182.8 23.7 14.9%
Total Capital 47.4 3.3 7.4%

As a result of deepening cooperation with international financial institutions, during 2014 the Bank managed to attract additional long term resources of non-treasury origin from the following financial institutions:

Partner-Financial Institution Funding volume (mln $)
CITI syndicated 18.0
J.P. Morgan 75.0
BSTDB 10.0
EDB 10.0

At the end of 2014, the quantity of permanently active customers increased by 1.7% (to around 225 thousand customers).

The complete versions of Ardshinbank CJSC’s financial reports are available here.

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0015, 13, Gr. Lusavorich Str., Yerevan, Armenia
Telephone: (+37460) 27-04-04, (+37460) 27-05-05,   Fax: (+37410) 56-74-86   E-mail: office@ashib.am