"Armenian Development Bank" Open Joint-Stock Company
Established in 1990. Before 1996, it operated as the Bank for Reconstruction
and Development.
License N14 of the Central Bank of the Republic of Armenia issued on 1
October 1991.
The bank participated in the following international financial programs: the
World Banks Highway Project [1997-2001]; jointly with the Armenian Office of
the U.S. Shorbank Advisory Services it realized a Small and Medium Enterprises
(SME) Lending Program [1999-2002]; jointly with the World Bank and the
International Agricultural Development Agency it realized loan programs for
farmers and processing industry [2000-2003]. Bank is the full member of Master
Card International payment system, member of the Western Union and SWIFT
systems.
The bank is the official agent of the Ministry of Finance and Economy of
Armenia on the securities market, the member of SWIFT International Financial
Telecommunication System.
The bank serves more than 5500 clients, 18% of which are legal entities and
82% individuals.
The bank has two branches in Yerevan (Avan district and Charents street).
The bank has 110 employees.
The bank has 73 shareholders.
Persons, having direct and considerable participation in the bank capital:
Ruben Hayrapetyan - 17.90%, Araik Mekhakyan - 16.88%, Grigor Termejyan
- 16.03%, Onik Alexanyan - 10.94%. East Investor LTD - 10.07%. Edland
Erik Anders Joakim 8,82% Tonton Investment LTD
As of 10 February 2008, the total capital of the bank totaled AMD 4 727 882
thousand; the assets made AMD 13 732 537 thousand; liabilities AMD 9 400 655
thousand.
