Saribek Sukiasyan, Chairman of the Board of Armeconombank, during the interview with Tert.am spoke about achievements, leadership, the formula for success, a safe and stable economic environment, and his vision for the future.
Putting the Human Factor at the Center of Strategic Management
Today’s financial landscape is undergoing significant transformation. In these conditions, maintaining high business growth while fully realizing the potential of the most important asset - human capital - is a complex challenge. Mr. Sukiasyan, in the era of artificial intelligence and digital transformation, how do you manage to maintain this balance?
The financial system is currently undergoing a phase of rapid change; traditional models are gradually giving way to innovative solutions. As a key player driving economic activity and financial stability in the country, Armeconombank cannot remain uninvolved or unaffected by these processes.
I am pleased to note that 2025 was a year of steady progress for the Bank. Compared to the previous year, the bank recorded significant growth in its key indicators and continued strengthening its position in the sector. For us, sustainable growth within the system is more important than generating additional revenues that could create greater risks in the future.
Overall, I positively assess the performance of the Bank’s management, viewing it as the combined result of sound strategic decisions and strong teamwork.
We continuously invest in developing and strengthening our team's professional capabilities. Simultaneously, we are actively expanding our workforce by recruiting intelligent, knowledgeable, and agile-minded managers who stand out for their pragmatic approach and realistic vision. Team building is a continuous process for us. We are always looking for and ready to welcome great professionals, offering them competitive compensation.
Through my years of experience, I can say that in every team there are leaders who are proactive, ready to assume great responsibility, and capable of confidently leading others, and there are also those who consistently and reliably carry out assigned tasks. We value everyone and strive to create an environment where people can demonstrate their strengths and pursue continuous professional growth.
In my view, it is critical to align roles correctly and place the right person in the right position at the right time. Sometimes, however, one must be prepared to reconsider those decisions. Not everyone possesses the foresight or the drive to take initiative; in other words, not everyone is prepared to transition from being a high-level executor to a leader. Various factors may contribute to this - such as professional burnout, unhealthy ambitions, or other personal circumstances. Regardless of the cause, any disagreement or issue must be addressed with professionalism, courtesy, and a focus on logical resolution.
The Path to Success: Hard Work, Wisdom, and Pragmatic Approach
People often look for hidden conspiracies behind successful business stories. To what do you attribute your ability to remain a key figure in the business environment for decades?
My family and I achieved our wealth through hard work, persistence, and knowledge. No one could have made us rich - we have built our wealth through our own strength and intelligence. Those who know us are aware of our journey and can confirm how our father took us - his sons- to the factory during our teenage years and involved us in the work.
Our family was among the first in Armenia to establish a professional business culture and transform it into a systematic practice over the years. Of course, we faced various attempts to seize our businesses or exert pressure on us at different times, but we fought persistently to protect everything we had built. I have never feared anyone or anything in my life. I have always stood ready to do everything in my power to defend our extended family, our achievements, and our values.
We have always followed the advice of our father, Albert Sukiasyan: “Never set your eyes on someone else’s property, but always fight to protect what is yours and never allow anyone to take it from you.”
We have gone through a path of hard work and struggle to achieve success under Divine providence. Difficulties have only made us stronger, and we are not afraid of envy, ill intentions or any hostility directed toward us..
In general, we highly value public trust and the opinion of society. We are open to constructive criticism because it gives us the opportunity to correct shortcomings - any reasonable opinion provides new motivation. I like to listen, analyze, and turn any remark into a new opportunity for development.
Unfortunately, criticism that lacks any basis and has nothing to do with reality is more common. That, of course, is unacceptable. Responding to unhealthy criticism is simply a waste of time - we prefer to focus on our work instead. However, we have a team of highly skilled professionals who represent and protect our interests before state authorities.
Business figures are often associated with politics. To what extent are you involved in political processes?
By nature and temperament, I am simply not a person who engages in politics. However, I believe that business cannot exist in a vacuum. Any economic development is directly linked to a country’s security and political stability.
I am passionate about my work and firmly believe that a true businessman has no need for political involvement. I have dedicated most of my time to business, and I am happy that I do what is good for me, my family, and my country.
We are supporters of peace. Strategic business planning is only viable in a stable, peaceful environment. As a businessman, I can only bring ambitious projects to life and lead my teams when there is peace.
Vision for the Future: High Standards and Ambitious Goals for Armenia’s Economic Development
Looking toward the future, what is your vision? How do you see the Sukiasyan family’s role in Armenia's economic profile tomorrow?
Ambitious business goals have been set for the Bank’s executive management, with a strictly defined pace for strategic development.
Our family keeps moving forward, setting new targets, and creating new jobs with the hope that Armenia will enjoy lasting stability and peace.
The economy functions like a living organism, constantly reacting to every shift. Today’s global economic landscape is marked by extreme volatility, which requires additional flexibility from us. With our many years of experience, hard work, and most importantly total dedication and effort, we strive to ensure the stability and progress of our businesses.
Naturally, every business encounters challenges regardless of its sector or scale. From my experience, I am convinced that every problem has a civilized solution. As my father often taught us: “Fight people with intelligence.” We are responsible for the public trust we have earned.
Our mission has never been limited to advancing our own businesses or ensuring the prosperity of our family. Our core objective is to serve as a driving force behind Armenia’s economic growth. I am proud that through entrepreneurship we continue to be a major taxpayer in Armenia - creating new value, new jobs, and new opportunities. This remains our firm vision for the years ahead.