Banks

Armeconombank introduces the new Visa Student card

Wed, 09 Sep 2026 12:32:00 +0400

The Visa Student card offers students a flexible financial management solution, combining the key benefits required for everyday transactions into a single card.

The bank reported that key benefits of the student package are international card issuance: convenient and secure payments both in Armenia and abroad; credit line on preferential terms: access to funds for tuition, personal projects, or other expenses at a special nominal interest rate of 16%, developed specifically for students (annual percentage rate: 17.23%); special cashback on frequent student expenses: 5% on urban and intercity public transport, 2% at fast-food outlets, 1% at sports clubs.

Armeconombank’s new Visa Student card is a comprehensive package tailored to the rhythm of student life. The card is issued for a 5-year term with a one-time fee of AMD 1,000 and no annual service fee. This Classic-class card enables students to take their first financial steps, in particular, offering a credit line on highly affordable terms, which is a major advantage. Furthermore, it provides special cashbacks aligned with student preferences. The range of benefits for the Student card will continue to expand in the future.

The card can be ordered at Armeconombank branches upon presentation of a document confirming student status.

To learn more about the card details visit Armeconombank’s official website.

Armeconombank is supervised by the Central Bank of Armenia.

35-year history step-by-step: Armeconombank celebrates its anniversary

Wed, 09 Sep 2026 10:15:00 +0400

On September 7, Armeconombank marked its 35th anniversary with a festive event at the Gabriel Sundukyan National Academic Theatre, reaffirming its commitment to actively promoting Armenia’s sustainable economic growth and serving as a reliable financial partner for its clients, shareholders, and partners.

The event was attended by the President of the Republic of Armenia Vahagn Khachaturyan, Deputy Prime Minister Mher Grigoryan, leaders from the Government, the National Assembly, the Central Bank of Armenia, and the Union of Banks of Armenia, along with financial sector partners, representatives of international organizations, as well as the bank’s long-standing employees, shareholders, and loyal clients.

During the event, a documentary film titled “Step by Step” was screened, telling the story of Armeconombank’s founding and institutional development. The bank’s key achievements and milestones were highlighted, including its rich experience in collaborating with international financial institutions, a highly qualified professional team, the establishment of a modern corporate governance culture, and its strong position in the banking market. The bank’s reputation and the profound trust placed in it by clients and partners were emphasized as crucial achievements.

Over the course of 35 years, Armeconombank has recorded impressive results:

• Unconditional client trust: The number of clients using the bank’s services has crossed the 475,000 threshold.
• Broad shareholder base: As an open joint-stock company (OJSC), ARMECONOMBANK today unites more than 7,400 shareholders, a number that continues to grow steadily.
• Strong and expanding team: The bank’s professional team currently brings together more than 1,000 employees.

In his address, Saribek Sukiasyan, Chairman of the Board of Armeconombank, noted that the Bank has navigated complex phases, demonstrating resilience, flexibility, and unwavering dedication to its core values:

“Armeconombank’s journey is closely tied to the history and development of Armenia’s financial system. Transparent operations and institutional responsibility toward the state have always been at the core of our strategy. For 35 years, our goal has been to build a bank that is not only a symbol of financial stability, but also a reliable pillar of national economic growth and public trust. In this context, I am proud to highlight our direct contribution to ensuring the country’s economic stability, year after year reinforcing our position as a major and exemplary taxpayer.

For 35 years, Armeconombank has held its unique place in Armenia’s banking sector. A bank’s success is not measured solely by financial metrics; it is measured by its impact on the country’s economic environment and by the responsibility forged through decades of honest work.”

Artak Arakelyan, CEO of Armeconombank, expressed his gratitude to clients and partners for sharing this 35-year journey with the bank, stating:

“35 years is not merely a timeframe; it is a honorable path walked together with thousands of people - marked by critical decisions, overcome challenges, and numerous achievements. Many of our clients have been with us for decades: every home purchased, business expanded, job created, or student educated represents our shared success.

We are deeply grateful for this binding trust and proud that through our operations, we have contributed to the progress of entrepreneurship and the activation of the investment environment.”

The celebratory evening was accompanied by performances from the National Philharmonic Orchestra of Armenia, featuring Armenian folk themes, as well as a captivating performance by the renowned jazz singer Nino Katamadze.

During the event, congratulatory speeches were delivered by President Vahagn Khachaturyan, Deputy Governor of the Central Bank Armen Nurbekyan, and President of the Union of Banks of Armenia Daniel Azatyan, all of whom underscored the pivotal role of the financial and banking sector in ensuring the country’s economic stability.

International partners of the bank also sent their warm wishes via video messages, expressing gratitude for long-standing, reliable cooperation.

The event concluded with a memorable performance by the “Kamerton” children’s vocal studio, led by Naira Gyurjinyan, together with Sargis Manukyan, lead vocalist of the band Empyray, performing Armeconombank’s anthem in a new, modern arrangement.

“Stepping confidently into the future, Armeconombank’s commitment and mission remain unchanged: to serve as a reliable financial institution driving Armenia’s sustainable economic development and a trusted partner for its clients and shareholders,” the bank said in a news release.

Armeconombank is supervised by the Central Bank of Armenia.

Auctions for placement and switch of government bonds amounting 35 bln AMD held

Wed, 09 Sep 2026 09:45:00 +0400

Placement and switch auctions of government bonds with a total volume of around 38 billion AMD were held at the Armenia Stock Exchange.

The results of the auctions are as follows:

1. ISIN AMGN36294293, maturity period of 3 years

• Volume of government bonds offered for placement: 35,000,000,000 AMD.
• Weighted average yield to maturity: 7.2689%, annual coupon yield: 7.40%.

2. ISINs AMGB3129A504/AMGB3029A548 government bond switch auction;

• Volume of bonds eligible for auction: 2,000,000,000 AMD
• Volume of bonds allocated: 2,000,000,000 AMD
• Weighted average allocation yield: 8.5356%
• Maturity of allocated bonds: 31 years
• Annual coupon rate of allocated bonds: 9.750%
• Volume of bonds repurchased (Buyback): 2,157,855,000 AMD
• Weighted average repurchase yield: 8.808%
• Annual coupon rate of repurchased bonds: 9.200%
• Maturity of repurchased bonds: 30 years
• Weighted average auction price yield: 9.2927%

3. ISINs AMGN60294292/AMGN36294277 government bond switch auction;

• Volume of bonds eligible for auction: 2,000,000,000 AMD
• Volume of bonds allocated: 907,929,000 AMD
• Weighted average allocation yield: 7.217%
• Maturity of allocated bonds: 5 years
• Annual coupon rate for allocated bonds: 8.600%
• Volume of bonds repurchased (Buyback): 927,374,000 AMD
• Weighted average repurchase yield: 6.5945%
• Annual coupon rate of repurchased bonds: 8.400%
• Maturity of repurchased bonds: 3 years
• Weighted average auction price yield: 9.0191%

Government bonds are available both on the Armenia Stock Exchange trading platform and online via gp.minfin.am.

Details of the auctions can be found here.

EBRD’s AMD-denominated bonds listed on AMX; Converse Bank acted as underwriter

Tue, 08 Sep 2026 17:16:00 +0400

The AMD-denominated bonds issued by the European Bank for Reconstruction and Development (EBRD) have been listed on the Armenia Securities Exchange (AMX).

The listing ceremony was held on September 8.

Grant Akopian, Chief Executive Officer and Chairman of the Management Board of Converse Bank; Remon Zakaria, Head of the EBRD Resident Office in Armenia; and Hayk Yeganyan, Chief Executive Officer of AMX, attended the listing ceremony.

“The listing of EBRD’s AMD-denominated bonds on AMX is an important development for Armenia’s capital market. The issuance of such an instrument by a leading international financial institution and its availability in the domestic market contribute to deepening the financial market, expanding the range of local currency financing instruments and creating new opportunities for investors. Converse Bank attaches great importance to its participation in such initiatives and will continue to support the development of Armenia’s financial ecosystem,” noted Grant Akopian, Chief Executive Officer and Chairman of the Management Board of Converse Bank.

“The successful issuance and listing of the EBRD’s AMD-denominated bonds demonstrates our continued confidence in Armenia’s financial market infrastructure and economic prospects. Developing local currency capital markets is a key priority for the EBRD, as it helps channel savings into productive investment, broadens funding options for businesses and strengthens economic resilience. We are grateful to Converse Bank and AMX for their partnership in bringing this transaction to the market and look forward to continuing our joint efforts to deepen Armenia’s capital markets,” said Remon Zakaria, Head of the EBRD Resident Office in Armenia.

“We are pleased to welcome EBRD’s local currency bonds to AMX. EBRD has been a long-standing partner in the development of Armenia’s local currency capital market for many years, and this new issuance demonstrates the continued confidence in Armenia’s market infrastructure and the development potential of Armenia’s local currency bond market.

We see this listing as another important step toward building a deeper, more diversified and internationally connected capital market in Armenia,” noted Hayk Yeganyan, CEO of AMX.

EBRD’s AMD-denominated bonds were placed through an auction on the Securities Placement Platform of AMX. Converse Bank acted as the underwriter, arranging the bond issuance and the guaranteed placement of the bonds.

The total nominal amount of the issuance was AMD 5 billion. The bonds have a floating coupon rate, a maturity of 36 months, and semi-annual coupon payments.

Converse Bank is supervised by the Central Bank of the Republic of Armenia.

Become a Unibank shareholder and acquire perpetual bonds with a 13.25% yield

Tue, 08 Sep 2026 16:48:00 +0400

Unibank is successfully placing newly issued shares worth AMD 3.9 billion as part of Armenia’s first hybrid investment offering.

Under the terms of the offering, the bank provides investors with the opportunity to participate in the new share issuance and acquire perpetual bonds with an annual coupon yield of 13.25%. This new investment solution combines the potential for capital growth from investments in shares with predictable income from perpetual bonds, offering investors a more diversified approach to portfolio building. The offering is available until September 9, 2026.

The share prospectus was registered by Decision No. 1/210A of the Chairman of the Central Bank of the Republic of Armenia dated May 13, 2026. The program prospectus for the perpetual bonds was registered by Decision No. 1/427A of the Chairman of the Central Bank of the Republic of Armenia dated November 26, 2025, with supplements registered by Decisions No. 1/228A dated May 22, 2026, and No. 1/282A dated June 29, 2026. Printed copies of the share and perpetual bond prospectuses, as well as the accompanying documents, are available at Unibank’s head office and branches. Electronic versions of the documents are available at www.unibank.am.

Apicius Armenia opens new, fully equipped Hospitality School building in Dilijan

Tue, 08 Sep 2026 16:04:00 +0400

Apicius Armenia International School of Hospitality has officially opened its new educational building in Dilijan on September 5.

The new three-story building has been designed and fully equipped to international standards, creating a modern learning environment for students preparing for careers in Armenia’s growing tourism and hospitality sector.

Apicius Armenia is the Armenian branch of Apicius International School of Hospitality in Florence. Established in Dilijan in 2025 by the Green Rock Foundation with the support of Green Rock, the school brings international hospitality education to Armenia while adapting it to the needs of the local market.

Alessandro Ferranti and Katerina Danekina

The opening ceremony was attended by Armenia’s Minister of Education, Science, Culture and Sports Zhanna Andreasyan, Ambassador of Italy to Armenia Alessandro Ferranti, as well as representatives of the Tavush Regional Administration and the Dilijan Municipality.

Katerina Danekina, CEO of Green Rock Management Group, said the creation and development of Apicius Armenia is part of a broader vision for Dilijan – one that places people and education at the center of the city’s future.

“When we began shaping our vision for Dilijan’s development, we knew that its future had to be about much more than buildings and infrastructure. It had to be about people – creating an environment where talented and ambitious young people can learn, grow and build their future.

Katerina Danekina

That is why education has such an important place in our vision. Apicius Armenia brings international experience and knowledge to Armenia, giving young people the opportunity to develop practical skills, discover their potential and build careers in hospitality.
Today, we are opening a new building, but more importantly, we are opening a new chapter,” noted Katerina Danekina.

Katya Bredikhina, Director of the Green Rock Foundation, emphasized that Apicius is designed to go beyond traditional classroom education by connecting students with real work experience and the local community.

“When developing its projects, the Green Rock Foundation always considers their long-term impact. We are implementing cultural, educational and community projects at the same time to contribute to the comprehensive development of Dilijan. In the same spirit, Apicius is more than just a school. It gives students education, real-world experience and a direct connection with the local community. Our goal is to prepare professionals who are ready to work in a real environment from day one and contribute to the long-term development of Dilijan,” said Katya Bredikhina.

Education that connects learning with real experience

Practical experience is at the heart of Apicius Armenia’s educational approach. Around 80% of the learning process takes place in real hospitality environments, allowing students to develop professional skills while they are still studying.

The school’s facilities include CEMI (CEMI by Apicius), a student café operated by Apicius students from the very beginning of their studies. The café is also open to visitors and residents of Dilijan, giving students the opportunity to gain hands-on experience in a real working environment.

Apicius Armenia offers a two-year educational program. Depending on their study pathway, students can continue their second year in Florence or complete the full program in Armenia. During their studies, they receive an internationally recognized professional qualification and can also continue their education through bachelor’s degree programs at the American University of Florence.

Katya Bredikhina

From Dilijan to Florence

The school’s first academic year has already produced tangible results. Eight students have moved from Dilijan to Florence to continue their education and gain international professional experience. Now in its second academic year, Apicius Armenia brings together several dozen students from different countries, all preparing to build their careers in the hospitality industry.

Expanding access through scholarships

Apicius Armenia also offers scholarship opportunities based on different criteria, including motivation, academic potential and financial need. The scholarship fund is supported by contributions from organizations and partners committed to expanding access to hospitality education.

Green Rock is the school’s largest scholarship contributor and provides 10 full scholarships every year to Apicius Armenia students.

The development of Apicius Armenia by Green Rock and the Green Rock Foundation is part of a broader strategy to support Dilijan’s long-term development, strengthen Armenia’s hospitality education ecosystem, bring international expertise to the local context, and prepare a new generation of qualified professionals for the country’s growing tourism and hospitality sector.

Byblos Bank Armenia stands with the “TUMO for Artsakh Youth” program

Tue, 08 Sep 2026 11:32:00 +0400

Byblos Bank Armenia has donated AMD 3 million to the “Tumo for Artsakh Youth” (T4AT) program.

The bank reported that the T4AT initiative aims to support forcibly displaced youth aged 12-18 from Artsakh, promoting their well-being and healthy integration into their new environment.

The program includes ongoing assessments to identify and address the psychological, educational, vocational orientation and other needs of participating youth. Based on these assessments, the TUMO Center team serves as a youth advocate, connecting young people with relevant service providers and support structures.

Through Byblos Bank Armenia’s contribution, the program will periodically assess the needs of approximately 6,000 young people, provide extracurricular educational opportunities and respond to other identified needs of beneficiary youth.

Anthropic launches AI commerce agents with Visa and Mastercard

Tue, 08 Sep 2026 10:21:00 +0400

AI firm Anthropic, which created Claude, launched a blueprint for retailers to build their own shopping agents on the AI chatbot.

The commerce agents will be able to support the consumer and merchant, and is being brought to retailers in partnership with Visa, Mastercard, and Accenture, Finextra informs.

Jack Forestell, chief product and strategy officer at Visa, said: “AI will fundamentally reshape commerce, but trust must remain at the centre of every transaction. Merchants are telling us they want more control over how AI engages their customers.”

Using the code plugin, retailers will be able to develop their own commerce agents. The shopping agent will be able to search within the catalog for what the user is looking for, remember customer preferences, build the cart for the customer, and answer queries.

The merchant agent will provide support to those running the store by recommending pricing changes and promotions, tracking inventory, and analysing sales performance.

Kath Gramling, global consumer goods, retail and travel lead at Accenture, commented:

“Our latest research revealed that 85% are now open to collaboration with an AI agent and nearly three in four would trust a personal AI agent more than their best friend to make a purchase on their behalf.”

The partner of Fintech section is

Trading volume increased by 72% in the corporate bonds market in August

Mon, 07 Sep 2026 12:28:00 +0400

Armenia Stock Exchange (AMX) has summarized the trading activity for August 2026. During the month, a dynamic trading environment has been maintained, highlighting growing investor confidence and market activity.

On the primary auction platform of AMX, the allocation volume of government bonds was more than 53․4 billion AMD. Meanwhile, 62 transactions were conducted on the secondary market, with a total volume of more than 21 billion AMD, which exceeds the figure for the same period of the previous year by 135%.

In the corporate bonds market, trading volume increased by 72% compared to the same period last year, reaching approximately 10.5 billion AMD. During the reporting period, 2085 transactions were concluded involving 221 corporate bonds listed on the exchange as of the end of August. This steady growth reflects healthy demand for corporate bonds.

The trade volume of equity reached more than 153.4 million AMD and the market capitalization more than 356.2 billion AMD. A total of 288 transactions were concluded with shares.

The volume of REPO agreements has been more than 22.8 billion AMD. A total of 199 repo transactions were conducted in August, exceeding the same period last year by 361%.

On the AMX FX platform, 4 transactions were executed with a total volume of approximately 277 million AMD. During the month, the exchange rate price ranged between 364.25 and 364․5 AMD.

Comparative charts of monthly data can be viewed on the official AMX website.

Revolut achieves conditional OCC approval for US national bank status

Mon, 07 Sep 2026 11:20:00 +0400

Revolut has received conditional approval from the US Officer of the Comptroller of the Currency to form a national bank.

The company is now working through remaining applications and final approval from the OCC as it progresses toward its planned 2027 launch of the proposed bank, Finextra reports.

Once all approvals are received, Revolut will be able to directly offer US customers a wide range of banking products including loans, credit cards as well as access to stablecoins and cryptocurrencies

Revolut founder and CEO Nik Storonsky says: "Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank US. It gives us the foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans."

The launch of the proposed US bank will build on Revolut's expanding footprint across the Americas, as the company mounts up banking licences throughout Latin America.

Revolut recently launched its Mexican bank and has been advancing regulatory efforts in Brazil, Colombia, Peru and Argentina, laying the groundwork for a fully connected financial network across the hemisphere.

Beyond the Americas, Revolut has continued its global push in 2026, obtaining bank licences in France, Australia and the UK, a payments licence in the UAE, and progressing a bank license application in Finland an South Africa.

The partner of Fintech section is

What the World's Oldest Bank Reveals About EU Financial Integration

Fri, 04 Sep 2026 22:30:00 +0400

Lucrezia Reichlin, a former director of research at the European Central Bank, is Professor of Economics at the London Business School.

Lucrezia Reichlin

After seven hours of deliberations on August 20, the board of Banca Monte dei Paschi di Siena emerged with an extraordinary decision. Founded in 1472 and rescued by Italian taxpayers in 2017, Monte dei Paschi defended itself against Intesa Sanpaolo’s €30.6 billion ($35.7 billion) takeover bid by launching share-exchange offers for Banco BPM and Banca Generali, totaling roughly €34 billion, while distributing another €4 billion to its own shareholders.

Italians have a word for this kind of maneuvering: risiko, after the board game. Monte dei Paschi is trying to make itself too large and expensive to swallow. But the move also reveals something important about why European financial integration has proved so difficult.

At stake is not simply market share or cost savings. The move is about control over the investment bank Mediobanca, which Monte dei Paschi acquired last year; Mediobanca’s 13% stake in the insurance giant Assicurazioni Generali; and, ultimately, a large pool of Italian household savings. It is also about the network of institutions that has shaped Italian financial and industrial power for decades.

That is why a takeover battle among listed companies is being couched in the language of national interest. Trade unions have threatened mobilization. The identities of shareholders supporting the different sides are treated as political news. And the cross-border element—the French bank Crédit Agricole owns 29.3% of Banco BPM—is treated almost as an intrusion.

The lesson is straightforward. Banking in Europe remains national in ways that European Union policymakers have consistently underestimated.

The standard explanation for the failure to complete the banking union and create an integrated European capital market is that governments do not want to share financial risks. German taxpayers, it is often said, do not want to insure Italian bank deposits. While there is some truth to this, Monte dei Paschi points to another obstacle.

A national banking system is not merely a mechanism for providing credit. It also sustains governments’ influence over where national savings go: which firms receive finance, which industries expand, which regions attract investment and, not least, who buys government debt.

Image by: REUTERS

Before the European monetary union, governments exercised this influence much more openly, through public ownership, credit controls, and direct intervention. European liberalization largely abolished those instruments. But the political interests behind them survived, albeit in less visible forms. European financial integration is often viewed as a technical project for improving efficiency. From the perspective of national governments, however, the banking union and the EU Savings and Investments Union offer remarkably little in exchange for weakening one of the few remaining channels through which they can influence the allocation of domestic savings.

For example, when a national banking system gets into serious trouble, the ultimate fiscal responsibility still lies largely with the national government. Italy recapitalized Monte dei Paschi in 2017 under European rules, but with Italian public money. If a much larger Monte dei Paschi were to encounter serious difficulties, the Italian government would again come under enormous pressure to intervene.

In short, EU policymakers are asking governments to accept less control over their banking systems without fully relieving them of the responsibility for dealing with a systemic crisis. That is not an attractive bargain.

Europe should try a different tack. Instead of making governments surrender their remaining influence over national banking systems to complete financial union, the EU should focus on building a genuinely European financing channel for investments that national systems are poorly equipped to provide.

The need is increasingly obvious. Europe must finance electricity grids, defense spending, energy infrastructure, digital networks, and other projects whose economic value crosses borders. National banking systems, designed primarily to intermediate national savings and finance national borrowers, are not well suited to this task. Such a channel should therefore extend beyond banks, allowing investment funds, insurers, specialized lenders, and other financial institutions to originate and finance European projects.

The objective should be to create a large market for claims backed by European investment. Importantly, the European Central Bank could help enable such a market within the confines of its price-stability mandate. Through its collateral and eligibility rules, the ECB already determines which financial assets can be easily exchanged for central-bank liquidity. Those rules can be designed so that sound claims financing European projects are attractive to hold and trade. A limited amount of public capital could thus absorb some initial risk and help mobilize much larger amounts of private finance.

Rather than asking governments to sacrifice national interests, the EU would be offering them a tangible benefit: a source of finance for investments they cannot efficiently provide on their own. National firms could participate in building grids, ports, defense systems, and other European infrastructure. Banks could earn fees by originating, arranging, and distributing securities, without having to hold the resulting credit on their balance sheets. And European savings would acquire a route toward European investment that does not depend entirely on national banking systems.

Image by: REUTERS

Over time, this financing channel could become more attractive than the national alternatives for genuinely European projects. Governments would not formally surrender their existing powers; they would simply have less reason to use them. That distinction matters, because European integration has often advanced when new EU arrangements gradually supersede national instruments.

The battle over Monte dei Paschi is not just another episode in Italy’s endless banking risiko. It exposes a political economy that EU financial reform has largely ignored. The next time a European Council communiqué calls for integrating Europe’s capital markets, policymakers should remember that governments are concerned not only about who bears the financial risks, but also about who controls the savings and credit on which national economic power rests. Instead of asking governments to give up more, Europe must build something that national authorities have an incentive to use.

Copyright: Project Syndicate, 2026.
www.project-syndicate.org

IDBank warns of a new extortion scheme on Telegram

Fri, 04 Sep 2026 15:52:00 +0400

A new scam technique is becoming widespread in the Russian-language segment of Telegram, including among users in Armenia. Scammers are leveraging the messenger's features alongside psychological pressure to blackmail users and extort money in exchange for maintaining access to their accounts.

How the Scam Works: From a single button to blackmail

• The Bait: The user receives a link to a Telegram bot under the guise of participating in a survey, a prize draw, receiving a gift, or verifying their account. For credibility, the name and design of the bot may imitate official services, such as Telegram Support, Wallet, or BotFather.
• The “Start” button: The victim is asked to launch the bot. Pressing the “Start” button itself does not hand control of your account over to the scammers, but it indicates that the user has responded to the bait and is willing to continue interacting.
• Blackmail and threats: Immediately after the bot is launched, a scammer reaches out. The pressure scenario is always the same: scammers claim that by clicking “Start,” the user became the “owner” of a malicious bot. They threaten that unless money is transferred, they will use their network of accounts to send mass reports against the bot. Under the platform’s rules, Telegram’s algorithms may block not only the bot itself, but also the account that interacted with it or to which it is linked. Scammers frighten the victim with the complete and permanent loss of their personal profile, chats, and contacts.

Important Detail

The main weapon in this scheme is not technical vulnerability in Telegram, but psychological pressure. Pressing the “Start” button alone does not give scammers the right to manage or delete your account.

You should not believe claims that a few reports will automatically result in your profile being deleted. Telegram reviews user reports, so the threat of “we will mass-report you right now and you’ll be deleted” does not mean the scammers can do so.

Legal Trap

If you transfer money to scammers on your own, the transaction is considered voluntarily initiated and authorized by you. Recovering such a transfer later is extremely difficult. At the same time, paying money creates no obligations for criminals. They may continue the blackmail, so attempting to “buy them off” is almost never a solution to the problem.

IDBank recommends:

• Do not launch unfamiliar bots. Especially if they were recommended by strangers in chats or promised a gift for clicking a link.
• If you have already done so, do not transfer money. Paying will not stop the scammers; it will only show that you are willing to pay more.
• Immediately block the bot and report it directly through Telegram. The “Block and Report” feature is available directly on Telegram.
• Save screenshots of the conversation. These will be useful when contacting Telegram Support and the police.

The scammer’s most effective tool in this scheme is your own fear. Do not let the threat of losing an account force you into voluntarily losing money. Stop, do not pay anything, and verify any alarming messages through official channels.

The bank is supervised by the CBA.

“Armenia’s capital markets are active”: Dimension posts record placement volume

Fri, 04 Sep 2026 11:25:00 +0400

Between July and August 2026, Dimension investment company successfully completed corporate bond placements for six Armenian companies. The issues, totalling AMD 8.8 billion, were placed in full and significantly ahead of their originally scheduled closing dates.

The issuers represent a range of sectors, from agribusiness and healthcare to infrastructure construction, industrial production and retail. They include brands widely recognised by the public. The sectoral diversity of the placements enables investors to participate, through the capital markets, in the development of different segments of the real economy, while giving companies access to alternative sources of financing and a broader range of funding instruments.

“We believe these transactions make an important contribution to the development of Armenia’s capital markets and to fostering a new culture in the financial market. Entering the capital markets requires a higher level of financial transparency and accountability, the engagement of independent auditors, and the implementation of appropriate corporate governance mechanisms. These standards strengthen confidence in individual companies and, more broadly, contribute to a more transparent and institutionalised business environment.

In this context, the Government’s “State Support Programme for Issuance and Rating” has played a particularly important role. The support provided under the programme has reduced the cost for companies of accessing the capital market and served as an effective incentive for attracting issuers and supporting the market’s further development. Armenia’s capital markets are active and we hope that similar programmes will continue and further facilitate the entry of new companies into the capital markets,” said Grigor Harutyunyan, Chief Executive Officer of Dimension CJSC.

About Dimension CJSC

Dimension CJSC is an investment company offering a broad range of services and solutions in investment banking, asset management, brokerage and securities custody.

The Company is licensed and supervised by the Central Bank of Armenia.

“Orran” students start the new academic year with support from “The Power of One Dram”

Thu, 03 Sep 2026 17:40:00 +0400

On September 1, students of the “Orran” charitable NGO welcomed the new academic year with all the necessary school supplies, with the support of “The Power of One Dram” initiative.

The entire amount raised through “The Power of One Dram” in August – AMD 4,719,020 – was donated by Idram and IDBank to “Orran”.

“The goal of this cooperation is to make the start of the new academic year a special occasion for the children. They even joked that having new school supplies made them even more excited to go back to school. We have many users who specifically choose to make payments through the Idram&IDBank app, knowing that Idram and IDBank allocate 1 dram from each payment to a charitable initiative. This is very important to us, because charity is not only about providing financial support, but also about contributing to initiatives and programs that, through a single decision, can change lives,” said Tatevik Vardevanyan, Head of the Communications and Social Responsibility Programs Department at Idram and IDBank.

Representatives of the companies summed up the results of the August “The Power of One Dram” initiative at “Orran” during a special event prepared by the children, filled with songs, dances, and the joyful spirit of September.

“Charity is contagious: once a person helps and realizes how meaningful it is, they never want to stop. We are glad that Idram and IDBank chose us as the beneficiary of this important initiative ahead of the new academic year, because we see how important it is for children to go to school properly dressed, with a new school bag and stationery, and feeling confident and included,” said Armine Hovhannisyan, Founder and Director of the “Orran” charitable NGO.

““The Power of One Dram” continues to support important social, community, and educational initiatives. To participate in the initiative’s good deeds, all payments must be made through the Idram&IDBank app, IDBanking.am and banking.idram.am online platforms, Idram and IDBank terminals, and for each payment, the companies will allocate one dram to important programs,” the news release reads.

IDBank and Idram companies are supervised by the CBA.

C-Quadrat Ampega commits USD 6 million to Formula VC Fund II

Thu, 03 Sep 2026 10:38:00 +0400

CQ Ampega Asset Management Armenia has committed USD 6 million from its CQ Conservative pension fund and USD 90,000 from its CQ Balanced fund to Formula VC Fund II, a venture capital fund investing in early-stage technology companies.

“Technology is one of the priority sectors of Armenia’s economy. Through this investment, long-term pension savings are directed to companies operating in the real economy.

CQ Ampega’s Investment Committee conducted comprehensive due diligence, assessing the fund and its General Partners against a range of criteria.

The investment decision was made following a comprehensive risk analysis and compliance review. Factors that influenced the positive decision include:

• The strategy of the fund and the portfolio construction approach, which provides meaningful diversification across the technology sector
• The committee’s assessment of Formula VC Fund I results achieved to date
• The general partners’ operating experience and their direct, active engagement with portfolio companies
• A clear commitment to continuous improvement, particularly in adopting institutional standards and international best practices
• Direct and consistent communication with both investors and portfolio companies

This investment also strengthens the link between Armenia’s financial and technology sectors, which until now have largely developed in parallel rather than in an interconnected manner,” the news release issued by CQ Ampega says.

“This investment is a meaningful diversification for the pension funds – a new source of additional return for pension participants over a long term investment horizon.

Diversification through alternative investments is consistent with global institutional portfolio allocation practices and follows from our fiduciary duty. Through this fund, around 450,000 citizens whose pension assets are managed by C-Quadrat Ampega gain participation in the strategic industry sector. This marks another important milestone on the path toward achieving the investment objectives we manage on their behalf.

This investment represents approximately 0.3% of assets under management, which is calibrated at the acceptable risk level for pension funds. Here, the scale works both ways, as its also a significant volume of long-term, patient capital for Armenia’s technology sector,” noted Arman Vardanyan, CEO of CQ Ampega Asset Management Armenia.

“Back in 2024, by becoming the sole institutional investor in Formula VC’s first fund, C-Quadrat Ampega became a pioneer in pension fund venture investments both in Armenia and across European ecosystems. Today, we are already making investments through our second fund, Formula VC Fund II. As the largest venture investor in our ecosystem, continued cooperation with C-Quadrat Ampega is very important to us.

We consider this investment strategic for Armenia. Recent developments around artificial intelligence indicate that Armenia is inevitably becoming a regional hub not only for AI infrastructure, but also as a preferred destination for startups. In this context, we place even greater importance on the participation of the country’s long-term funds – the so-called “long money” in the innovative technology ecosystem,” said Karen Vardanyan, General Partner, Formula VC.

C-Quadrat Ampega Asset Management Armenia is a pension and investment fund management company committed to providing high-quality asset management services in Armenia in line with international best practices. The company manages more than AMD 760 billion in pension and investment fund assets on behalf of approximately 460,000 participants. The company is founded by Austrian & German asset managers.

Formula VC is a venture capital fund that invests in early-stage startups and supports them with resources, connections, and access to professional networks, helping innovative teams become global players in their respective industries.

The EU Council agreed to introduce temporary trade-liberalization measures for Armenia

Wed, 02 Sep 2026 15:21:00 +0400

The EU Council today agreed to introduce temporary trade-liberalization measures for Armenian products to support Armenia’s economy following trade restrictions recently imposed by Russia.

These measures will liberalize around 80% of Armenian exports to the EU. This preferential arrangement comes with certain conditions and also includes safeguard measures to protect the EU market if imports adversely affect EU producers.

“Europe stands with Armenia and its people, who have chosen a clear path for reform and closer cooperation with the European Union. Today’s decision sends a clear message: when faced with economic coercion, the EU will respond. We will create new opportunities and stand with our partners,” said Helen McEntee, Minister for Foreign Affairs and Trade of Ireland.

The regulation introduces a temporary suspension of import duties for a broad range of Armenian products, including selected agricultural products subject to tariff-rate quotas.

The measures will apply for two years from the regulation’s entry into force and will cover almost 99% of Armenia’s exports of fresh fruit, vegetables and plants to Russia and more than 91% of beverages and spirits.

The preferential arrangements remain conditional on Armenia complying with the applicable rules of origin, engaging in administrative cooperation with the EU, refraining from introducing new trade restrictions on EU imports and respecting the essential elements of the CEPA, including democratic principles, the rule of law and human rights.

The European Parliament is expected to adopt its position without amendments during its September plenary session.

Unibank launches a new promotion for “U-Teenager” cardholders

Wed, 02 Sep 2026 12:00:00 +0400

Unibank has launched a new promotion for Arca U-Teenager cardholders, with the grand prize of AMD 1 500 000 to participate in a summer educational program at one of the leading universities abroad.

The bank reported that the promotion will run till March 31, 2027. To participate, customers must apply online using a QR code for a Unibank Arca “U-Teenager” card and make cashless transactions during the promotion period. At the end of the promotion, the three cardholders who have made the highest number of cashless transactions will receive prizes. The participant who takes first place will receive the grand prize. The participants who take second and third places will receive laptops.

Higher education institutions in Armenia can also participate in the campaign by placing a special QR code that allows their students to apply online for ArCa “U-Teenager” cards. A special prize is provided for universities: Unibank will provide financial support to equip a computer classroom or purchase other technical equipment for the university whose students apply for the largest number of Arca “U-Teenager” cards using the provided QR code during the promotion period.

The Arca U-Teenager card is issued and delivered for free. Cardholders receive 2% cashback on cashless transactions.

“Supporting education and creating new opportunities for youth are among Unibank’s important areas of corporate social responsibility. Through the U-Teenager promotion, the bank aims not only to offer young customers modern financial tools, but also to support their pursuit of new knowledge and personal development,” the bank said in a news release.

For more information about the promotion follow the link: U-Teenager Promotion.

Byblos Bank Armenia offers up to AMD 1 billion in business financing

Wed, 02 Sep 2026 10:34:00 +0400

Byblos Bank Armenia is offering preferential terms for businesses seeking financing or refinancing, including:

- Interest rates starting from 10% in AMD and 7% in USD
- Financing from AMD 10 million to AMD 1 billion, or from USD 30,000 to USD 3 million
- Loan terms of up to 180 months (with preferential terms available for up to 12 months)
- Fixed interest rates for up to 2 years
- Financing of up to 80% of the market value of the collateral
- Up to 7% interest on the positive balance of AMD accounts opened during the campaign

The offer also includes a number of other benefits. For more information on the terms and conditions, please visit the bank’s official website or call +374 60 61 61 00.

The bank is supervised by the CBA.

“Unisport” advances to the main round of the UEFA Futsal Champions League

Tue, 01 Sep 2026 17:05:00 +0400

Armenian champions and cup winners “Unisport” have secured a place in the main round of the UEFA Futsal Champions League after recording three consecutive victories in the preliminary round of the tournament.

In their final group-stage match, “Unisport” defeated German champions “Weilimdorf” 5:2. Rafik Melikyan and Putrus Vasilev scored twice each for the Armenian side, while goalkeeper Bekbolot Akmataliev added another goal. With a maximum of 9 points, “Unisport” confidently finished first in Group E and will continue their campaign in the main round of the UEFA Futsal Champions League.

Futsal club “Unisport” was established with the support of Unibank, which is the team’s general sponsor. The partnership with the club is part of the bank’s consistent efforts to support initiatives that contribute to the development of Armenian sport and its promotion on the international stage. “Unisport’s” qualification for the main round of the UEFA Futsal Champions League marks a new stage for the team and gives it an opportunity to make its mark at a higher level of European futsal.

“We are pleased to see the ambitions with which “Unisport” was established turn into tangible sporting results. Three victories in the UEFA Futsal Champions League and qualification for the main round confirm the team’s potential and demonstrate how much can be achieved through professional work and a shared commitment to a common goal. For Unibank, it is important to support projects that enable Armenia to be represented with distinction on the international stage. We wish the team confident performances and new victories,” Unibank noted.

The main round matches will take place from October 27 to November 1 in Luxembourg. “Unisport’s” opponents will be “Kauno Žalgiris” (Lithuania), “Differdange 03” (Luxembourg) and “Doukas” (Greece).

Ahead of the new academic year, C-Quadrat Ampega donates 500 new books to libraries across Armenia’s 10 regions

Tue, 01 Sep 2026 13:12:00 +0400

With the support of pension fund manager C-Quadrat Ampega, community libraries across Armenia’s 10 regions have received 500 new books published by Newmag.

The donation was made as part of the “Empowering Community Libraries” program ahead of the new academic year. As a result of the initiative, 10 libraries in the regions of Aragatsotn, Ararat, Armavir, Gegharkunik, Lori, Kotayk, Shirak, Syunik, Vayots Dzor and Tavush have received new collections of contemporary literature.

The books were selected with the active participation of the C-Quadrat Ampega team. The selection was based on their educational and cultural value, relevance of the topics they address, potential to broaden readers’ perspectives, and appeal to different age groups.

The collections donated to the libraries include international bestsellers, classic literature, contemporary fiction and non-fiction, as well as works by Armenian authors. All books are in Armenian, in modern editions and high-quality translations. Among the selected titles, for example, is Yuval Noah Harari’s Sapiens, which explores the history of humankind, the development of societies, the role of information, and technological change.

“As a company managing the pension assets of hundreds of thousands of people, we view our mission from a long-term perspective. For us, caring for people’s future also means contributing to the development of the society in which they and their families live. Access to education, knowledge and culture is one of the essential foundations of that development. Our team has sought to select books that are not only engaging, but can also provide new knowledge, raise questions and broaden readers’ perspectives. We hope that each of these 500 books will find its reader and become an opportunity to discover new knowledge, spark new interests, or simply encounter a good book,” said Arman Vardanyan, CEO of C-Quadrat Ampega.

The “Empowering Community Libraries” program is an initiative of Newmag Publishing House through which community libraries across Armenia receive new books with the support of private companies, philanthropists and foundations. Many of these libraries have not had their collections replenished with contemporary publications for decades.

“In Yerevan, a newly published book becomes available almost immediately, while in many communities readers may go years without seeing a new publication. The primary goal of our program is to reduce precisely this inequality. With the support of C-Quadrat Ampega, this time we were able to reach all 10 regions of Armenia simultaneously. This is particularly important at the beginning of the academic year, when libraries once again become active meeting places for children, teachers, students and readers. Our goal is to make contemporary books accessible in every community across Armenia,” said Artak Aleksanyan, CEO of Newmag Publishing House.

“The “Empowering Community Libraries” educational and social program aims to gradually renew the library collections of more than 350 communities across Armenia by providing them with contemporary, high-quality literature. Through this book donation supported by C-Quadrat Ampega, 500 new books are now available to readers across Armenia’s 10 regions,” the news release reads.

C-Quadrat Ampega Asset Management Armenia is a pension and investment fund management company committed to providing high-quality asset management services in Armenia in line with international best practices. The company manages more than AMD 760 billion in pension and investment fund assets on behalf of approximately 460,000 participants. The company is founded by Austrian & German asset managers.

Newmag is one of Armenia’s leading publishing houses. Its mission is to introduce Armenian readers to contemporary, high-quality literature across a wide range of genres while promoting a culture of reading and lifelong learning. The publishing house offers Armenian and international fiction and non-fiction, as well as children’s books. Newmag organizes book launches, author events, and its own literary festivals, supports community libraries across Armenia, and participates in international literary festivals. The company began its journey as a magazine in 2007 and has operated as a publishing house since 2018.