ArmSwissBank CJSC is a private and investment bank founded in
Yerevan
Yerevan ( , , hy, Երևան , sometimes spelled Erevan) is the capital and largest city of Armenia and one of the world's oldest continuously inhabited cities. Situated along the Hrazdan River, Yerevan is the administrative, cultural, and i ...
in February 2005 after receiving its
banking license
A banking licence is a legal prerequisite for a financial institution that wants to carry on a banking business. Under the laws of most jurisdictions, a business is not permitted to carry words like a ''bank'', ''insurance'', ''national'' in th ...
N84 from the
Central Bank of Armenia
The Central Bank of Armenia ( hy, Հայաստանի Կենտրոնական Բանկ, translit=Hayastani Kentronakan Bank) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issu ...
. Shortly after, the bank was also granted brokerage license (NBG 0064) and custody license (NPG 0065) to expand its activities. The bank collaborates with
KfW
The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national d ...
and
EBRD
The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially foc ...
within the scope of
renewable energy and corporate lending programs.
As a member of FCI (Factors Chain International), it has joined international payment systems such as Swift, CBANet and BankMail to ease transfers with correspondent banks :
Commerzbank AG,
UBS AG
UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swis ...
,
Raiffeisen, UniCreditBank, etc.
In December 2010, ArmSwissBank was the sole underwriter for Artsakh HEK second
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
which fully raised USD 4.3 million in the
Armenian Stock Exchange
Armenia Securities Exchange or "AMX" ( hy, Հայաստանի ֆոնդային բորսա), formerly NASDAQ OMX Armenia, is the only stock exchange currently operating in Armenia. It is located in Yerevan, the capital city. The state regulatory a ...
. For that same year, the bank won the title of the Best Exchange Member in Government Bonds Market by
NASDAQ OMX Armenia.
See also
*
Economy of Armenia
The Armenian economy contracted sharply in 2020, by 5.7%, mainly due to the 2020 Armenia-Azerbaijan war. In contrast it grew by 7.6 per cent in 2019, the largest recorded growth since 2007, while between 2012 and 2018 GDP grew 40.7%, and key ba ...
*
List of banks
Lists of banks are contained in the following articles:
By continent
* List of banks in Africa – Each country in Africa has a list of banks operating in that country
* List of banks in Asia – Asia has a list of banks operating in that co ...
*
List of banks in Armenia Central bank
*Central Bank of Armenia
Commercial banks
As of 31 December 2017, there are 17 commercial banks operating in Armenia. This includes:
* Ameriabank opened in 1910 as the Yerevan branch of the Caucasus Trade Bank.
* Armbusinessbank op ...
References
{{Reflist
Banks of Armenia