Question 1

What is Artsakhbank?

Accepted Answer

Artsakhbank is a commercial bank operating in Armenia, providing a comprehensive range of retail and corporate banking services. Established as a closed joint-stock company (CJSC), the bank serves over 43,000 customers, predominantly individual clients, with a focus on supporting economic and social development in Armenia. As of July 2025, Artsakhbank operates through 8 branches across Armenia and employs approximately 260 staff members.

The bank holds Central Bank of Armenia License No. 75, issued on August 14, 1996, and maintains total assets of approximately AMD 52.6 billion (USD 145.2 million) as of August 2023.

Question 2

When was Artsakhbank founded?

Accepted Answer

Artsakhbank was established on February 12, 1996. The bank was initially founded to provide banking services and support economic development in Armenia and the Nagorno-Karabakh region (formerly the Republic of Artsakh).

On November 6, 1996, shortly after its establishment, Artsakhbank transformed from a Closed Joint-Stock Company into an Open Joint-Stock Company, following a resolution by the Bank's Shareholders General Meeting. However, on June 24, 2001, the bank was reorganized back into a Closed Joint-Stock Company (CJSC) structure, which it maintains to this day.

Question 3

Where is Artsakhbank headquartered?

Accepted Answer

Artsakhbank is headquartered in Yerevan, the capital city of Armenia. The bank's main office is located at 1B Charents Street, Yerevan 0025, Armenia.

From this central location, the bank coordinates its operations across its branch network throughout the country.

Question 4

Where does Artsakhbank operate?

Accepted Answer

Artsakhbank operates primarily throughout Armenia, with 8 branches serving various regions of the country as of July 2025. The bank maintains a presence in Yerevan, the capital, where multiple branches serve the urban population.

The bank has also expanded its reach to other Armenian cities and towns, including locations such as Chambarak and Meghri, providing banking services to both urban and regional communities. Historically, the bank operated 11 branches in the former Republic of Artsakh until the territorial changes in 2023.

Question 5

What services does Artsakhbank offer?

Accepted Answer

Artsakhbank offers a comprehensive suite of retail and corporate banking services designed to meet the financial needs of individuals and businesses. Core services include:

Retail Banking: Current accounts, card accounts, savings deposits, consumer loans, mortgage lending, and payment card services through Mastercard International and the ArCa national payment system.

Corporate Banking: Business lending, commercial accounts, trade finance services including letters of credit and factoring, and corporate payment solutions.

Digital Banking: The bank offers Artsakhbank Mobile, a mobile application available for iOS and Android devices that enables 24/7 financial management. Key digital features include account management, card balance viewing, currency exchange, loan repayment, deposit replenishment, utility payments, card-to-card transfers, police penalties payment, and a branch/ATM locator. The app supports secure authorization with password, passcode, Touch ID, and Face ID.

Payment and Transfer Services: The bank is a member of the SWIFT international payment system and provides international money transfer services through MoneyGram, IntelExpress, UBPay, Migom, Leader, and Anelik systems. The bank maintains correspondent relationships with 25 banks, both local and foreign.

Question 6

What makes Artsakhbank unique?

Accepted Answer

Artsakhbank distinguishes itself through several notable characteristics that set it apart within the Armenian banking sector:

Information Security Certification: On December 30, 2020, Artsakhbank received a certificate of compliance with ISO/IEC 27001:2013 (Information technology - Security techniques - Information security management systems), demonstrating its commitment to maintaining high standards of information security and data protection.

Historical Regional Focus: The bank has maintained a unique historical connection to the Nagorno-Karabakh region (Artsakh), as reflected in its name. This regional focus distinguished it from other Armenian banks, particularly through its former network of 11 branches in the Republic of Artsakh, which operated until 2023.

Payment System Integration: The bank is a shareholder of Armenian Card CJSC and maintains full membership in the ArCa national payment system, a principal member of Mastercard International, and is listed on the AMX Armenia Securities Exchange, providing comprehensive payment infrastructure for its clients.

Ownership Structure: The bank's majority shareholder is the Business Fund of Armenia, CJSC (51.7176%), with additional ownership by other resident legal entities (45.3454%), resident natural persons (2.9364%), and non-resident natural persons (0.0006%), reflecting a primarily domestic ownership base.

Question 7

What type of financial institution is Artsakhbank?

Accepted Answer

Artsakhbank is a commercial bank structured as a closed joint-stock company (CJSC), operating under Armenian banking regulations. As a commercial bank in Armenia, Artsakhbank provides universal banking services encompassing both retail and corporate banking operations.

The bank falls within the category of small to mid-sized commercial banks in the Armenian banking sector, serving a specialized customer base with approximately 43,787 customers as of August 2023, of which about 94.6% are individual clients and the remainder are corporate entities. With total assets of AMD 52.6 billion (approximately USD 145.2 million) and equity of AMD 9.0 billion (USD 24.7 million), the bank maintains a focused market presence within Armenia's 17-bank commercial banking system.

As a resident bank of Armenia, Artsakhbank holds all necessary licenses and regulatory approvals from the Central Bank of Armenia to conduct full-scope banking operations, including deposit-taking, lending, payment services, and currency exchange activities.

Artsakhbank

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About Artsakhbank in Armenia