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Armenia Banks



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ACBA-Credit Agricole Bank The ACBA bank was established in 1996, within TACIS program of the European Union.
Credit Agricole Consultant consulting service of the French Credit Agricole bank jointly with Dutch Rabobank and German DG-Agroprogress companies successfully implemented the three-phase bank establishment program.
In the first phase of e program implementation (1993-1994), a study on possibilities for financing the Armenian agriculture was carried out, as a result of which a recommendation was made to establish an agricultural bank under the model of the European cooperative bank.
In the period between September 1994 and December 1995, the structural formation of ACBA Bank was accomplished, the main achievement of it being formation of 60 village cooperation unions. Such unions were established in four regions of Armenia: Armavir (Edjmiadzin), Ararat (Artashat), Shirak (Gyumri) and Vayots Dzor (Yeghegnadzor).
The functional establishment (1996) was signaled by creation of ACBA bank and its three branches, and by the Central Bank of Armenia issuing a license for practicing banking activities on March 29, 1996.
Long-term and mutually beneficial cooperation between ACBA Bank and the European leading French banking group Credit Agricole led Credit Agricole bank group to become the biggest shareholder of ACBA Bank on September 15, 2006, by making a significant financial investment into the bank capital. ACBA bank was restructured, becoming a closed joint stock company and it was renamed ACBA-CREDIT AGRICOLE BANK.
Anelik Bank The Bank implements its activity pursuant to RA Civil Code, laws and prudential regulations of Central Bank of RA, other laws regulating activity of RA banking system, which guarantee the stability of banking system.
In banking system stability, the Bank during its activity deals with its clients on contract basis and remains loyal to the principles of creating trustworthy environment, implementing transparent banking services for customers and expects the inflow of customers, and the Bank does everything to regulate the customer’s transactions and to improve the financial state since good and financially well-to-do customers make the Bank powerful. During the introduction with financial instruments and transactions the financial documents of clients are matched with existing laws since the Bank responds more operatively to the changes in existing laws.
The relationship between management and employees carries the following principle, when implementing transactions, since lower levels are dealing with customers, so they are the first to meet the customers’ suggestions, complaints and questions, and consequently any suggestion brought by customers is accepted and observed by management.
The relationship between participants and management is based on Bank’s charter regulations and in strategic issue solving the primary is participants’ meeting decisions.
The responsibility for solving current, operative issues is put on Bank’s Board.
In installing and importing banking technologies corresponding to new international standards, the bank pursues the following policy principle: any banking instrument corresponding to international standards, the result of which is the additional profit and the rise of bank’s image would be implemented. The bright example is the works carried out on plastic card service, letter of credits, leasing and other.
Araratbank The Araratbank offers small and medium entrepreneurship (SME) credit programs under the slogan “develop your business with the help of Araratbank.”
ArdShinInvest The proposed equity and loan financial package of up to $25 million is intended to strengthen the capital base of Ardshininvestbank (ASHIB or the bank) and to broaden the bank’s funding base for on-lending to corporate clients including SMEs and to retail clients for residential housing projects. The proposed investment would be IFC’s first investment in the bank.
ASHIB is one of the largest privately controlled banks in Armenia. It is the largest bank in Armenia in terms of loan portfolio, the second largest bank in terms of assets, with total assets of approximately $223 million equivalent at the end of June 2007.
AreximBank Армяно-российский экспортно-импортный банк был создан в 1998 году для поддержки предпринимательства и обслуживания финансовых потоков между Россией и Арменией.
Банк постоянно расширяет сеть корреспондентских отношений с крупнейшими банками США, Западной Европы, России, стран СНГ.
Банк предоставляет универсальный комплекс банковских услуг, обслуживая как физические, так и юридические лица. При обслуживании юридических лиц банк активно использует документарные операции по обслуживанию международных торговых контрактов.
Арэксимбанк был первым, кто стал внедрять на предприятиях зарплатные проекты,т.е. получение зарплаты посредством международных пластиковых карт.
Armagrobank Armagrobank, jsc is the largest bank in the country, with 46 branches throughout Armenia and Nagorno Karabakh. It is a universal bank, providing a full range of personal and corporate banking services.
Artsakhbank Artsakhbank CJSC was established on 12 February 1996 according to the resolution of the Bank’s Shareholders General Meeting. On 6 November 1996 “Artsakhbank” CJSC was transformed into “Artsakhbank” OJSC according to the resolution of the Bank’s Shareholders General Meeting. On June 24, 2001 “Artsakhbank” OJSC was reorganized into Artsakhbank CJSC.
“Artsakhbank” CJSC had 141mln profit in 2001: the actives of the bank made 6073 mln ADM` which is twice more than the previous rate, occupying the second place among the Armenian banks. The credit investments are increased for 180,7% - 3457 mln drams. By the liquidity and profitability rate the bank occupies one of the first place in Armenian banking system.
The bank is the shareholder of “ArCa” CJSC and the full member of “ArCa” system, the member of Europay/Master Card international payment system, and the member of SWIFT system.
The main shareholders of the bank are:
Vardan Sirmakes 38.6% Hratch Kaprielyan 38.6% USA Kamo Nersisyan 10.1% Armenia Arden Selefyan 5.0% Switzerland
The bank serves 4257 clients: 3329 individuals and 928 legal entities. The bank has 253 employees. The bank has 14 branches: 10 - in the Nagorno-Karabakh Republic, 4 – in Yerevan.
As of 30 June 2007, the total capital of the bank totaled AMD 4 199 642 thousand; the assets made AMD 24 700 442 thousand; liabilities - AMD 20 500 800 thousand.
Bank Mellat Bank Mellat is a state-owned commercial Iranian bank. Its name means "Bank of the Nation". Bank Mellat was established in 1980, with a paid of capital of Rls 33.5bn as a merger of ten pre-revolution private banks comprising: Tehran, Dariush, Pars, Etebarat Taavoni & Tozie, Iran & Arab, Bein-al-melalie-Iran, Omran, Bimeh Iran, Tejarat Khareji Iran and Farhangian.
Currently, the bank's capital amounts to Rls 13,100bn and is one of the largest commercial banks in the Islamic Republic of Iran, ranking among the top 1000 banks of the world.
The Bank Mellat London branch was merged with the Bank Tejarat branch to form Persia International Bank PLC. The United States Department of the Treasury has mentioned Bank Mellat and Persia International in their latest watchlist of Iranian Banks whom maybe trading in violation of UN Security Council Resolution 1803.
Central Bank of Armenia The Central Bank of Armenia.
Converse Bank cjsc “Converse Bank cjsc“ closed joint stock company is one of the leading banks of Armenia. The main goal of "Converse Bank" cjsc is reasonable and safe allocation of Customer’s funds and qualified service provision to Customers in due time.
HSBC Bank Armenia HSBC Holdings plc is a public limited company incorporated in England and Wales, headquartered in London. It is the world's largest company and the world's largest banking group, as calculated based on different metrics by the annual Forbes list of the world's largest firms published on April 2, 2008. In February 2008, HSBC was named the world's most valuable banking brand by The Banker magazine.
HSBC Holdings was established in 1991 to become the parent company to The Hongkong and Shanghai Banking Corporation Limited in preparation for its purchase of the Midland Bank in Britain and in change of domicile for the transfer of sovereignty of Hong Kong. The former was established virtually simultaneously in Hong Kong and Shanghai in 1865 to finance the growing trade between China and Europe by Scotsman Thomas Sutherland, who wanted a bank operating on "sound Scottish banking principles". Its heritage in East Asia means it is a British institution with an extensive international pedigree.
HSBC is well-known in banking circles for its diversified and risk-averse approach in its business operations (to the extent that, for instance, Europe contributes around one-third of its 2007 earnings and commercial banking 30%).
According to Forbes magazine, the world's largest bank (based on a composite score) is currently the fourth largest bank in the world in terms of assets ($2,348.98 billion), the second largest in terms of sales ($146.50 billion), the largest in terms of market value ($180.81 billion), and the most profitable bank in the world with $19.13 billion in net income last year (compared to Citigroup's $3.62 billion in the same period) as of April 2, 2008.
It is also by far the largest bank in the United Kingdom and in Hong Kong, prints most of Hong Kong's local currency in its own name, is a lender of last resort in many parts of the world, and since the end of 2005 has been the largest banking group in the world by Tier 1 capital. By acquisitions and organic expansion HSBC is currently pursuing a strategy of rapid growth in booming China.
ProCredit Bank Procredit Bank is a member of the Procredit Group, which owns majority stakes in 19 countries on the continents of The Americas, Africa, and Europe. Procredit Bank is the name of several of the Group's banks in the Eastern European region.
VTB Bank Armenia Bank VTB (Russian: ОАО "Банк ВТБ"), former Vneshtorgbank, is one of the leading universal banks of Russia and the largest in terms of authorized capital.
As of December 31, 2005 according to IFRS (consolidated), its shareholders equity totaled $5.3 billion.
As of April 10, 2007, the bank reported assets of $52 billion, up from $36.7 billion in December 2005. It earned a profit of $1.17 billion in the fiscal year 2006.
In December 2007 The bank sold its 5% stake in the European Aeronautic Defence and Space Company, which it purchased for $1 billion in 2006, to the Russian Development Bank VEB for $1.45bn.
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Above may be not an exhaustive list of banks in this country. Also, the information might be outdated or wrong.

Some of the information placed above may have been taken from:
Wikipedia
www.quazell.com/bank
www.business.com
www.yemensites.com
www.hivietnam.biz
www.banks.az
mbendi.co.za

Information from Wikipedia is available under the terms of the GNU Free Documentation License.





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