"Artsakhbank" CJSC
Artsakhbank, CJSC, was established on February 12, 1996 on the basis of the
NKR Central Bank and Savingsbank. It is the only resident bank of Armenia that
operates both in Armenia and throughout Nagorno Karabakh considering its mission
to assist in economically effective social programmes implementation, middle and
small entrepreneurship establishment and further development.
Artsakhbank is a universal bank. In Nagorno Karabakh it also serves the state
budget of NKR, as well as government and other state agencies.
The RA Central Banks License No.75 of July 14, 1996.
82.2% of the Banks ordinary shares belong to citizens of Switzerland and the
USA.
| Shareholder Status |
Shareholder of the Bank |
Share Capital Participation |
Non-Resident Individual, also
Majority Shareholder |
Vardan Sirmakes |
38.6%
|
| Hrach Gabrielyan |
38.6% |
Resident Individual, also
Majority Shareholder |
Kamo Nersisyan |
10.1% |
| Non-Resident Individuals |
5% |
| Resident Individuals |
6% |
| Resident Legal Entities |
1.7% |
Artsakhbank is a shareholder of ArCA, CJSC, and an affiliate member of ArCa
payment system, as well as a member of Europay/MasterCard international payment
system and SWIFT international money transfer system.
The client base of Artsakhbank numbers 13 822 persons, of which 12 483 are
individuals. As of March 2008 the Bank has 348 employees.
Artsakhbank has 14 branches, of which 10 perform throughout Nagorno Karabakh
and 4 in Yerevan.
As of 30 June 2008: total capital - 4 846 745 thousand dram, the assets - 26
886 266 thousand dram, the liabilities - 22 039 521 thousand dram.
