ARARATBANK was established in 2004, as a result of purchasing the shares of
Armsvyazbank, which had been functioning in the Armenian financial market
starting from 1991.
In September of 2005, the bank was renamed to ARARATBANK CJSC.
Starting from August 3 of 2007, ARARATBANK has been a joint stock company
the second of the kind in Armenia.
The bank is a member of the Union of Armenian Banks.
In accordance with the three-sided agreement, signed with the RA Ministry of
Finance and Economy and the RA Central Bank, ARARATBANK is attached the status
of an RA state debt management agent in the primary and secondary markets.
The bank is a member of the local Ara and international SWIFT payment
systems.
ARARATBANK is the direct representative of Western Union in Armenia, has the
only specialized office of Western Union in Transcaucasia.
It realizes quick international money transfers by Anelik, Western Union,
MIGOM, BLUSKO, BTF SOUZ, PRIVAT MONEY systems.
Starting from October of 2006, the bank has been participating in the German
Stable Development of the Mortgage Market of the German KfW.
In 2007, the bank signed a co-crediting agreement on provision of business
credits to the enterprises of the Republic of Armenia with the Swiss Izmirlian
Foundation.
In 2007, the Global Rating international independent rating agency attached
ARARATBANK B+ rating with stable outlook.
The bank provides services to over 10 000 individuals and about 700 legal
entities.
The bank has 8 branches, 4 of which in Yerevan, one in Gyumri, 1 in Abovyan
and 1 in Tsakhkadzor, as well as 1 in Stepanakert.
The number of the banks employees is 136.
As of December 31 of 2007, the banks total capital makes AMD 4 609 588
thousand, the assets - AMD 27 754 478 thousand, the liability - AMD 23 144 890
thousand.
