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Company Background

- System to accept online payments for VISA International and MasterCard Worldwide by using 3D secure system was launched

- Dye packs were installed in risk-bearing ATMs of the Bank

- The Bank terminal software was updated  

- The Bank started processing of its own electronic wallet    

- The Bank arranged for improving the Bank's services provided to legal entities and individual entrepreneurs, as well as developed and introduced new banking products, such as loans issued under “Subsidization of interest rates on loans for the implementation of drip irrigation systems” program, “Subsidization of interest rates on loans for the implementation of anti-hail protection networks for the agricultural sector of RA” program, and “Subsidization of interest rates on loans for the creation of intensive orchards in RA grown by using modern technologies” program 

- Within the framework of student cards, the list of cooperating educational institutions has been expanded by signing agreements with colleges and specialized schools  

- Under cooperation with the Traffic Police, a new project was implemented for salary projects, as well as for the collection and transfer of funds to the budget collected by the Traffic Police  

- Periodically, as necessary, the processes for granting loans existing then at the Bank were optimized; the terms and tariffs of loan products (loans under gold collateral, mortgage loans, credit lines under salary projects, etc.) were revised and improved

- In the field of remote customer service, the Bank developed and introduced “Mobile Banking” facility

 - Through periodic analyses of the banking system, the Bank revised the terms and tariffs of products, developed and improved several internal regulations    

- Agreements were signed to accept payments for water supply and water drainage, housing maintenance and for garbage disposal in the regions

- Correpondent accounts were opened at the Bank: Moscow, Russia, RAIFFEISENBANK AG, Moscow, Russia, TRANSKAPITALBANK, Moscow, Russia (loro).


- During 2017 the Bank undertook efforts to improve banking services rendered to legal entities and private entrepreneurs, as well as new types of banking products were developed and implemented, such as loans issued under the program of partial subsidization of interest rates on loans provided to the agro-processing sector for the procurement (purchase) of agricultural raw materials, pre-export financing and financing under export insurance. 

- The Bank signed a loan agreement with the Central Bank of the Republic of Armenia to receive financing within the framework of loan program funded by European Investment Bank; a cooperation agreement was concluded with ICJSC “Export Insurance Agency of Armenia”; agreement on partial subsidization of interest rates on loans provided to the agro-processing sector for the procurement (purchase) of agricultural raw materials was signed with “Rural Finance Facility” RAED PIU SA; cooperation agreements were signed with appraisal companies.    

-   In the sphere of retail business development, a new type of deposit “ARMBUSINESSBANK-STUDENT” was introduced in the form of a promotional campaign in 2017. Significant changes were made to the types of interest payments for the main type of “ARMBUSINESSBANK-BENEFICIAL” deposit.    

- The list and geography of ATMs expanded (the number of currency exchange machines increased by 10)      

- In the field of remote customer service, the Bank developed and tested Mobile Banking service, which is planned to implement in 2018. To promote Bank services through automated machines, the Bank expanded its partner list (along with Telcell and Easy Pay terminals, the services are also available through Idram terminals).     

- With regard to insurance industry, the Bank passed on to ASWA system /a unified system for concluding CMTPLI (APPA) contracts/.

- The following correspondent accounts were opened at the Bank: Russian Agricultural Bank OJSC, Moscow, Russia, Sberbank of Russia (INR account/), Otkritie Bank, Moscow, Russia and KBC, Belgium.

- The Bank also established international business relations with the following banks: IIB (International Investment Bank), Moscow (trade financing), BHF Bank, Germany (trade financing) and Československá obchodní banka, a.s., Czech Republic (trade financing). 



- A consulting agreement was signed with Business & Finance Consulting GmbH for consulting services within the framework of "Support to the Agricultural Sector of Armenia" program, as well as Master loan agreement was signed with the Central Bank of Armenia for financing under "Energy Efficiency for SMEs" program 

- Agreements were signed for the collection of payments for garbage removal and irrigation in the regions (Hrazdan, Vanadzor, Ararat)

- The Bank signed agreements with community-based administrative institutions (Masis, Ashtarak and other communities) for the provision of paid services

- The Bank established correspondent relations with RA banks (nostro and loro),  Interstatebank, Transcapitalbank (Moscow, Russia) and DBS bank, Singapore by opening nostro accounts 

- The Bank also established international business relationship with the following banks: MTSBank, Moscow, Russia /signing of Master Agreement/, “National Clearing Center” (AO) Bank, Moscow, Russia /signing of Service Agreement/, Moscow Currency Exchange, Moscow, Russia /acquisition of participant’s rights/.


- A new service to replenish customers’ accounts and card accounts through TelCell and EasyPay terminals was implemented   

- Agreements were signed with the Ministry of Finance and Economy of the Republic of Armenia on the maintenance of regional treasury offices in the new branches of the Bank

- "Financing of Purchase Order" and "Financing of Working Capital" loan products were implemented for corporate customers

   - Supplementary agreements relating to tariffs and conditions were concluded with partner insurance companies 

- The branch network of the Bank expanded: "Arabkir", "Avan", "Aparan", "Charbakh", "Hrazdan", "Tashir" and "Teryan" branches commenced operation

- The Bank commenced migration from "ArCa" payment cards to the cards of "MasterCard Worldwide" and "VISA International" payment systems

- The Bank opened correspondent accounts with Bayerische Landesbank (Bayern LB), Munich, Germany and commercial bank "Eurocommerce" PJSC 

- The process of issuing loans under the credit program funded by the Italian UBI bank started 

- The process of issuing loans/credit lines under the credit program financed by the European Investment Bank started

-  For the purpose of trade financing business relationships were established with German Bayerische Landesbank and BHF banks (financing of the export of German-made goods), etc.

* “Energy Efficiency” program with “National Mortgage Company” is launched
* For corporate clients “ABB-MICRO” and “Business Express” loan products are developed
* А credit program for concluding foreign trade transactions with post-financing is introduced with “The Development Bank of the Republic of Belarus”
* “ABB-MINI" and “ABB-AUTO TAX" loan products are offered to individual clients
* "Installment Credit on Spot", including “ABB-Achqi Luys" (Eye Light), “ABB- Installment Credit on Spot”, “ABB-Vega Installment Credit" and “ABB-VIVACELL" Installment Credit” are developed/implemented
* Cooperation agreements to develop and expand factoring operations are signed  with several companies
* “Tandem Transfers” and “Converse Transfers” international money transfer systems  is operated
* New type of payment Beeline IP TV is implemented /the service is rendered by SPB TV/    
* Cooperation agreements are concluded with 4 companies to implement new agency insurance services
* Correspondent accounts are opened with Russian banks “AKB FORA BANK” CJSC, “ANELIK RU” OJSC and “Akademrusbank” OJSC, and Latvian banks “Versobank” AS and “Baltikumsbank”
* Business relationships are established with “The Development Bank of the Republic of Belarus”, “Czech Export Bank” and the Italian UBI bank
* Vitaly Grigoryants becomes 100% shareholder of “ARMBUSINESSBANK” CJSC
* By the Board decision of “ARMBUSINESSBANK” CJSC the authorized capital of the Bank was replenished in AMD 5,407,500,000
* Bonus system procedure for the branch network of “ARMBUSINESSBANK” CJSC is developed and implemented
* “ARMBUSINESSBANK” CJSC expands the availability of its services by opening 10 branches in Yerevan and in Gegharkunik, Ararat, Shirak and Aragatsotn regions

* The Bank places an order for 12 BIN-s for own processing of chip cards of MasterCard Worldwide and VISA International payment systems
* The program testing for utility bills payment through “SERV” currency exchange machines manufactured by SIGMA Spa company is completed
* For corporate customers the following types of loans are implemented: “Financing of purchase order” and “Financing of Working Capital”
* Loan Portfolio Guarantee (DCA) program under USAID is  implemented
* Correspondent accounts are  opened with Deutsche Bank Trust Company Americas, New York and Deutsche Bank Ag Frankfurt, Germany
* “AVERS” international fast money transfer system is introduced
* New card products are introduced: “Cards for benefits payment”, “My ABB”, “My ABB +” and “AVIA +”
* New types of loans are offered to customers: “ABB – APPArik”, “ABB-Social Package”, “ABB-Extra +”, “ABB-Extra Gold”, “ABB-AGRO Gold”
* Accounts for social packages is arranged
* Registry keeping and custody mediation services, which are provided by "Central Depository of Armenia" OJSC are rendered
* The system of funded pension service is introduced
* SMS banking service is launched  
* Acceptance of utility payments is arranged in the branches of NKR  
* The service of sending voice messages to borrowers is implemented
* Promotions, active campaigns and expos are carried out on different types of loans and deposits
* Internal regulations are developed/reviewed in accordance with the international ISO standards  

2007 Acquired the status of an associate member to MasterCard payment system
2007 Agreements on lending association were concluded with the respective agencies for the German-Armenian Fund “The Stable Market Development for Housing Loans” program (KFW), the World Bank “The Economic Development of Rural Areas” program, Artsakh Investment Fund “Assistance to Small and Medium Size Entrepreneurial Business” program and the AUA “The Development of Trpanjyan Rural Communities” program  
2007 The unparalleled in the local banking market exchange machines were launched
2007 Commencement of “Vanadzor”, “Talin” branch offices, “Malatia”, “Gyumri”, “Nork-Marash”, “Stepanakert” and “Kajaran” branch offices
2007 Reinforcement up to 2,6 bln drams of authorized capital of “ARMBUSINESSBANK” CJSC by the decision of the General meeting of shareholders
2008 Commencement of “Martuni”, “Hadrut”, “Martakert”, “Askeran”, “Armavir”, “Khorenatsi”, “Nor-Nork”, “Kievyan” and “Shengavit” branch offices
2008 Bank commenced cooperating with Idram payment system
2008 Bank established correspondent relationship with RAIFFEISENBANK AUSTRIA ZAO bank
2008 “Khorenatsi”, “Nor-Nork”, “Shengavit” and “Kievyan” branches, which were registered in December 2007 commenced operation, and “Martuni”, “Hadrut”, “Martakert”, “Askeran” and “Armavir” branches opened
2008 Towards the end of 2008 the Bank proceeded to the introduction of ISO 9001:2008 International Standards for Quality Management
2008 Reconstruction of the monument to Sayat-Nova
2009  Commencement of “Artsakh”, “Erebuni”, “Noragavit”, “Ararat” and “Ani” branch offices
2009 By the decision of the General Shareholders' meeting, Bank's authorized capital was increased in K' 8.450.000 Armenian drams
2009 Bank shiftes Head office business to a newly-erected building at 48 Nalbandyan Street equipped with every necessary facility to provide a comprehensive range of banking service and affording for customer high-level servicing
2009 The Bank started issuing smart cards of MasterCard payment systems, as well as plastic cards of Visa International
2009 Had been signed loan agreements on cooperation with the German Foundation "program of economic adjustment lending", "National Mortgage Company" UCO CJSC NKR: "Riral and wood-economic support fund" and "Fides Mortgage Company"
2009 Lease financing was started
2009 Bank began the process of transfer system "Migom"
2009 Large-scale arrangments were implemented to ensure for the introduction of ISO 9001:2008 International Standards for Quality Management
2010 Bank switches to Cloud technology for business process maintenance,
Association lending agreements are concluded with a number of companies within the framework of German-Armenian Fund “Renewable  Energy Development” program funded by KFW, International Fund for Agricultural Development “The Economic Development of Rural Areas” project, the World Bank “Access to funds for SMEs” program, State “Accessible Housing to Young families” target program,  as well as the Bank entered into cooperation lending agreement with the Eurasian Development Bank
2010 Bank enters into cooperation agreements with a number of insurance companies, such as RESO, NAIRI INSURANCE, INGO-ARMENIA, GARANT-LIMENCE and ROSGOSSTRAKH-ARMENIA insurance companies
2010 Certification International (UK) Limited issues ISO 9001:2008 quality management certificate to the Head office and branch network of “ARMBUSINESSBANK” CJSC
2010 Bank establishes correspondent relations with Latvian NORVIK BANKA (nostro account)
2010 Bank branch network increases by 3 branch-offices: "Khachen", "Vardenis" and "Nor-Hachn"
2010 Bank includes INTEREXPRESS money transfer system in its international transfers
2010 Bank introduces INTERNET-BANKING system
2010 Bank website is radically redesigned  
2011 Bank started issuing ArCa Pension cards
2011 LADY" and "LADY GOLD" cards were designed and issued specially for women
2011 Bank has undertaken financing of commercial and debt transactions (factoring), selling AMERICAN EXPRESS Travellers' cheques and Habib Bank cheques, opening of unallocated metal accounts  
 2011 The bank started selling  "Habib Bank" Limited bank checks in UAE dirhams 
2011 Bank introduces MOBILE-BANKING system
2011 The Bank expanded its branch network by opening "Agarak" and "Abovyan" branches in Armenia and "Shushi" in Nagorno Karabakh
2011 The Bank got principal membership status by VISA International system and has already undertaken the process of issuing Platinium and Infinite cards of VISA payment system
2011 In compliance with ISO 27001-2005 standards special server reserve centre was established to secure regular Bank activity in emergency situations
2011 The only shareholder Chrystie Management Inc. reinforced Bank share capital with AMD 4 billion 50 million on December 19, 2011 and as a result the Bank increased capital became AMD 17 billion 500 million
2012 The Bank’s branch network is enlarged with 3 new sites - “Sebastia” and “Qanaqer” in Yerevan, and the eponymous branch in Dilijan,
2012 New collaboration agreements are signed with “CoinStar”, “RIA”, “Unistream” and “Intelexpress” international money transfer systems
2012 Seeking to expand correspondent relations, the Bank opens correspondent accounts with Bank of Georgia (Georgia, Tbilisi) and Raiffeisen Bank International AG (Austria, Vienna),
2012 ARMBUSINESSBANK is conferred on “Best Bank” award by Commerzbank for ensuring distinguished quality in the international transfer orders via SWIFT,
2012 ARMBUSINESSBANK wins an accolade of "Best Exchange Member in Credit Resources Market" by NASDAQ OMX ARMENIA,
2012 The year is marked with the celebration of “Loan Portfolio Guarantee Agreement” and “Memorandum of Understanding” within the framework of “Enterprise Development and Market Competitiveness (EDMC) Program” with US Agency for International Development (USAID),  
2012 The Bank is assigned a full member status of MasterCard Worldwide,
2012 In cooperation with Czech Airlines, the Bank starts issuing VISA cards allowing to earn bonus miles and enjoy a number of other benefits,
2012 The Bank starts issuing car loans under "Affordable Car to Young Families" state target program,  
2012 The Bank signs contracts on agency services with ROSGOSSTRAKH ARMENIA, ARMENIA INSURANCE, RESO, INGO ARMENIA insurance companies becoming an agent for these companies,  
2012 The Bank starts offering standardized gold bullions for sale,
2012 The Bank proceeds with the implementation of ISO/IEC 27001:2005 Information Security Management System.

1991 Bank was established as shareholding bank “Arminvestbank”  
1991 Banking license was granted by the Central Bank of RA (license #40)
1994 In accordance with the Constituent Agreement “Arminvestbank” CJSC became the successor of the shareholding bank “Arminvestbank”
1994 Bank became a member of the Yerevan Stock Exchange
1995 Bank joint the Banks Union of Armenia
1998 Bank obtained status of dealer in the state bonds market of RA
1998  Associated to the Bankmail electronic payment system  
2000 Bank joined the international payment system Western Union
2004 Bank became shareholder of the “Arminkasatsia”
2006 “Ukrprombank” Ltd., Insurance Company “ALPHA-GARANT” ALC and Christie Management Company became the new shareholders of Bank
2006 Bank joined SWIFT system
2006 Bank became emitting and maintaining member of CJSC “ArCa”
2006 Bank was renamed “Armbusinessbank” CJSC
2006 Commencement of “KENTRON” branch office
2006 The Bank affiliated to ANELIK
Updated on 26.10.2022, 11:14

In case of any inconsistency between the information published in Russian and English, you need to be guided by Armenian version.
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The Bank is controlled by the Central Bank of Armenia

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