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Ardshininvestbank Of Armenia To Re-Launch Its "Yeghegnadzor" Branch

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  • Ardshininvestbank Of Armenia To Re-Launch Its "Yeghegnadzor" Branch

    ARDSHININVESTBANK OF ARMENIA TO RE-LAUNCH ITS "YEGHEGNADZOR" BRANCH TODAY

    ARKA
    March 20, 2009

    YEREVAN, March 20. /ARKA/. Ardshininvestbank of Armenia is to re-launch
    its "Yeghegnadzor" branch. The repaired and improved building of the
    branch will be opened on March 20, the bank's press service reported.

    The branch is equipped with modern equipment and is ready to provide
    reliable banking services to its customers, says the report.

    In all branches of Ardshininvestbank throughout the country equal
    conditions are provided for all clients, says Acting Board Chairman
    of Ardshininvestbank Sergey Virabyan.

    The bank's staff has the required qualifications to render reliable
    and high-quality services to its clients, he said.

    "Yeghegnadzor" branch has about 3,000 clients, including state agencies
    and private organizations, as well as ordinary people.

    Ardshininvestbank received its license for banking activities from the
    Central Bank of Armenia on February 27, 2003. The main stockholders
    of the bank are "Region" investment financial corporation (86.82%)
    and the International Financial Corporation (10%). Arshininvestbank
    is an affiliated member of MasterCard/Europay international payment
    system and a stockholder of local transfer system Armenian Card closed
    joint stock company.

    In 2008, Moody's international ratings agency conferred long-term Ba3
    and short-term Not Prime ratings to Ardshininvestbank for deposits
    in =0 Alocal currency. ("BFSR") "D-" financial stability rating was
    also assigned to the bank.

    As of the end of 2008, the bank had the greatest net profit among
    Armenian banks and was the second in terms of credit investments and
    total capital; in terms of total assets and total liabilities it is
    the third.

    Today, the bank provides services to 157,000 individuals and legal
    entities.

    It has 49 branches, including 6 branches in Nagorno-Karabakh Republic
    and a representative office in Paris.
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