Union of banks of Armenia is a union of banks operating in the territory of Republic of Armenia which was founded on the 27th of July, 1995, according to the law "on banks and banking activity" and number one decision of commercial banks' constitutive meeting.

At the very moment of its establishment 31 commercial banks entered into the membership of the union. At present all 17 commercial banks are considered to be the members of the Union in Armenia.

The union is a legal entity non-commercial organization, the goal of which is the defense of bank interests.

UBA is now considered to be the legal successor of the "Association of Banks of Armenia”.

The major tasks of the union are as follows:

- to protect and introduce the interests of Union members in state and local self governmental bodies, in the central bank of Republic of Armenia, in international and non governmental organizations;

- to contribute to the development and consolidation of interbank relations, to systematize the activities of Union members aimed at the elaboration and realization of long-term joint programs;

- to participate in the elaboration projects on legislative and other normative acts about bank and financial-credit activities in Republic of Armenia;

- to provide the Union members with the information about international bank activities, to organize publication work;

- to develop and realize programs for organized trainings stipulated for the experimental qualification of bank employees as well as to organize trainings in corresponding establishments abroad;

- to promote the integration of the advanced bank methods and technologies in the certain system for the improvement of services and increase of the efficiency of activity;

- to assist in the conformation of functions of bank services to the international criteria, in the inculcation work for the palpitation of contemporary counting system as well as to promote the integration of bank system of Republic of Armenia into the international one;

- to organize seminars, conferences, and forums;

- to establish a court of arbitration adjoining the union.