As a universal-type financial and credit institution, “ARMECONOMBANK” OJSC offers its customers a comprehensive package of bank services. “ARMECONOMBANK” OJSC (the former Armenian Republican Bank "Zhilsotsbank" of USSR ) was the first amongst the state-owned banks of Armenia to be reorganized into a joint-stock bank and to be registered in the Central Bank of Armenia (August 26, 1991, Registration No.1).
In 1997, radical changes took place in the structure of share capital due to the attraction of a new strategic investor, the Sukiasyan family, the founders of “SIL CONCERN”. The Bank resolved the problem of capitalization by increasing its chartered capital fivefold during one year.
Well aware of the importance of providing its customers with quality, up-to-date, and convenient services, the Bank was the first institution in the banking sector of RA, which regulated the innovation operations.
One of the most important directions of the Bank’s activities is the development of services provided in electronic format (implementation of internet technologies).
As a founder-member of the ArCa plastic card payment system in the country, the Bank holds a significant part in plastic cards market.
“ARMECONOMBANK” OJSC, guided by the necessity of providing the customers with banking services in accordance with international standards and ensuring superior quality service policy, today the Bank has a wide branch network consisting of 49 branches, including 26 in Yerevan, 22 in RA regions, and 1 in NKR. As of 30.09.2017, the Bank had nearly 160.3 active individual and corporate customers located mostly in Yerevan.
As of 30.09.2017, the Bank had 3,326 shareholders (of which 21 non-resident shareholders with 21.6% shareholding, including the most significant one among them, the European Bank for Reconstruction and Development with 5.04% shareholding).
As of 30.09.2017, the number of Bank’s employees was 1047. The total assets of “ARMECONOMBANK” OJSC amounted to AMD 178,524.7 mln., total capital amounted to AMD 28,321.8 mln, and total liabilities amounted to AMD 150,202.9 mln. As of 30.09.2017, the Bank had AMD 979.5 mln profit.