Summarizing the year 2025, Artak Arakelyan, CEO of Armeconombank, reflects on the bank’s key achievements and priorities, including newly introduced products, digital innovations, environmental, social, and corporate governance (ESG) principles, and more.

- Mr. Arakelyan, toward the end of the year it is customary to pause and reflect on the year gone by. Looking back at 2025, what key achievements and priorities would you highlight? Has the bank succeeded in achieving its goals and addressing the challenges it faced?

- Periodic retrospective analysis of completed work is important. It helps identify achievements and possible shortcomings, draw conclusions, and outline necessary steps in both the short and long term. Summarizing the year, I should note that it was indeed intense and eventful: significant developments, the launch of new banking products with digital modernization as a priority, active cooperation with international partners, optimization and modernization of the branch network, professional training programs for employees, various initiatives and events, and more.

With a strong focus on delivering high-quality customer service, the bank introduced new deposit and loan products. Clearing services were expanded to make transactions more rational, secure, transparent, and predictable.

In 2025, Armeconombank achieved significant growth across key indicators and substantially expanded cooperation with international partner institutions, attracting over USD 150m – twice as much as the funds raised in the previous year. These resources will be directed toward financing SMEs, female and young entrepreneurs, agriculture, and green projects.

- You mentioned SME lending. It is no secret that one of the key objectives of SME financing is to support sectoral development and enhance SME competitiveness. Banks, responding to existing challenges, continuously introduce new financial instruments to promote sector growth and improve the effectiveness of SME lending. From this perspective, what will the planned introduction of leasing bring to Armeconombank?

- We are currently preparing for an active phase of leasing operations with the aim of unlocking the full potential of SMEs. SMEs are the backbone of the economy, yet they often have limited financial capabilities. Leasing is one of the key instruments that addresses this systemic challenge of financing accessibility for SMEs.

This is why we view leasing not as a standard financial product, but as an important component of the bank’s SME financing strategy. We believe that our SME strategy will be more comprehensive if we can also offer this instrument to entrepreneurs for business development.

In today’s rapidly evolving environment, reliance on outdated technologies poses a serious risk. Leasing projects will help SMEs avoid this risk and stimulate technological modernization by introducing modern production equipment, IT infrastructure, and more.

- Digital transformation is widely regarded as a necessity in the banking sector. What new solutions does Armeconombank offer its customers?

- Improving digital systems and services is an ongoing, everyday effort for us. In a competitive market, Armeconombank continues to expand its customer base by offering simpler and more modern digital solutions for accessing banking products.

This year, the “Savings Account” product was launched in the AEB Mobile application. This flexible personal finance management tool was designed to strengthen customers’ financial stability and security.

In addition to existing online identification, we recently became the first in the banking market to launch imID-based identification within AEB Mobile. This solution simplifies and accelerates the identification process and expands customers’ access to digital products. Importantly, it will also be used in the near future to carry out various banking transactions in a more secure and predictable environment.

Through the AEB Mobile app and the AEB Online system, the Bank has enabled the purchase of AMD- and USD-denominated bonds issued by Armeconombank.

In this context, it is important to note that Armeconombank has joined the ArcaQR system, allowing users to access the Bank’s mobile app, scan a QR code, and make payments directly from their bank accounts. In the near future, we will also complete the implementation of IdramQR, which will also enable account-based payments via mobile applications.

Another new solution is the ArcaPay service, a simple, fast, and secure system for instant transfers between customers using phone numbers. Very soon, our customers will also be able to withdraw cash from ATMs without a card, using a one-time code. And this is not all.

Functional improvements have been implemented across the Bank’s digital platforms and systems, increasing the efficiency and speed of AEB Mobile and AEB Online. In general, alongside service provision, we place great importance on customer consultation, making digital transformation accessible to a broader audience.

- Attention to sustainable development issues is growing worldwide and has a significant impact on the financial landscape. What approach does Armeconombank take in this area as a key player in the country’s banking sector and economy?

- Being responsible for long-term strategic development of the bank, we view our commitment to environmental, social, and corporate governance (ESG) issues not only as corporate responsibility, but also as a key business development priority. Since 2016, Armeconombank has consistently implemented an Environmental and Social Management System (ESMS), which is updated and improved annually.

In line with its ESG vision, Armeconombank joined efforts to reduce carbon emissions in Armenia within the framework of the Partnership for Carbon Accounting Financials (PCAF).

The bank was actively involved in the working group developing the Central Bank’s ESG and climate risk assessment tool, the Risk Radar.

The bank’s 2025–2027 strategy includes “Green Lending” and “Lending to Women” strategies, which envisage significant growth in the coming years.

In 2024, Armeconombank became the first bank in Armenia to develop a 2025–2027 Action Plan jointly with IPC consulting under the Asian Development Bank’s Technical Assistance program. The Green Strategy outlined in the roadmap includes embedding sustainability, climate responsibility, and inclusiveness into the bank’s operations, as well as implementing a Green Taxonomy based on international ICMA and LMA principles.

For us, ESG principles are no longer just about compliance as they are reshaping the financial sector now. That is why we plan to take concrete steps in the near future to promote and institutionalize ESG approaches across Armeconombank’s operational geography, which will undoubtedly lead to tangible changes.

- In the banking sector, evaluations from credit rating agencies and international institutions are generally regarded as highly significant. What made 2025 special for Armeconombank in this regard?

- We are proud to note that in 2025, Moody’s Investors Service international credit rating agency affirmed Armeconombank’s long-term B1 deposit ratings in both local and foreign currency, with a stable outlook, and updated the credit opinion on the bank.

Within the framework of the Asian Development Bank’s 11th Annual Trade Finance Awards, Armeconombank received another “Leading Partner Bank in Armenia 2025” award. This marks the sixth time the bank has received this recognition since 2015.

The list could go on, but I would like to add that our most important achievement has always been the trust and loyalty of our customers. This inspires us to continuously improve the quality of services that Armeconombank has been providing for the past 34 years.

Summing up the year, I am proud to say that through our collective effort and dedication, we have achieved notable accomplishments. We have further strengthened our position as a key player in the country’s economy and banking system, expanded our services, and steadily advanced toward our strategic goals. I am confident that we will continue to achieve meaningful successes and contribute to building a more sustainable future.

Let me also extend my congratulations on the upcoming New Year and Christmas holidays. May 2026 bring peace, prosperity, and significant achievements to Armenia and the Armenian people.