Armenian Economy Development Bank (Армения)

Armeconombank OJSC is one of the largest and leading banks in the Republic of Armenia, playing an outstanding role in developing Armenian Bank system. Being a universal-type financial and credit Institution it offers its customers a comprehensive package of bank services. Armeconombank OJSC (the former Armenian Republican Bank (Zhilsotsbank) of USSR) was the first among state-owned banks of Armenia to be reorganized into a joint stock bank and to be registered in the Central Bank of Armenia (August 26, 1991, Registration No.1).
The Bank takes active participation in International loan projects of European Bank for Reconstruction and Development /EBRD/, International Finance Corporation /IFC/ (small and medium size businesses finance program) and German-Armenian Fund (micro and small businesses Finance Program). Beginning from October 2006 the bank participates in (Mortgage Market Steady Development) program of German KfW Bank.
One of the most important directions of the Bank activities is rendering of e-services (implementation of e-banking technologies) and issue and service support of plastic cards. As a founder-member of ArCa plastic card payment system the bank possesses a significant part of plastic card market of Armenia. In addition to ordinary plastic card service, the bank also offers the employees of largest economic entities of the country payment of salaries via plastic cards. The Bank is the best paying agent for the Government of Armenia.
The bank s shares are listed in Armenian stock exchange (ArmEx).