Banks

50% Discount on Visa Support with the AEB Travel Package

Thu, 16 Jul 2026 13:27:00 +0400

Armeconombank is expanding the scope of privileges for its AEB Travel package.

From now on, when booking a hotel through the inLobby travel agency, the Bank's premium cardholders will receive a 50% discount on visa support services for the Schengen Zone, the United Kingdom, and the United States.

The AEB Travel package is designed for clients who hold or will acquire any of the following Armeconombank card types: VISA Platinum, VISA Infinite, VISA Guru Travel, Mastercard World.

You can find out more about all the privileges of the travel package here.

Armeconombank is supervised by the Central Bank of Armenia.

Visa unveils AI assistant for banking apps

Wed, 15 Jul 2026 11:50:00 +0400

Visa has taken the wraps off an AI assistant that US banks can embed into their own apps to provide cardholders with financial insights, Finextra.com reports.

Visa cites research suggesting that more than 66% of Americans who have used generative AI are turning to the technology for financial advice. Yet, consumers view banks as the most trusted institutions to safeguard personal data and 85% say they are willing to share even more data with their provider if there is a clear AI value proposition.

The AI Financial Assistant is being offered to banks as a value-added service that enables financial institutions to provide a conversational, in‑app experience for understanding spending, receiving personalised insights, and taking action from inside their existing apps.

At launch, it will proactively provide monthly spending insights, respond to natural‑language questions with answers grounded in a cardholder’s own financial activity, and let users lock a card or set alerts directly within the conversation.

13.07.2026 | 14:36 Early AI adopters set to dominate European banking market - Visa study

Michele Herron, SVP, head, North America value-added services, Visa, says: “Consumers are already turning to AI for financial advice - but banks have the full financial picture, can act on it, and are among the most trusted institutions consumers rely on.

AI Financial Assistant brings those strengths together, combining personalized insights based on a consumer’s own data and pairing it with the ability to act, all right within their bank's app.”

Unibank to Raffle a Trip to Italy

Tue, 14 Jul 2026 15:37:00 +0400

Unibank announces the launch of a special campaign, "More Opportunities with Unibank Mastercard World Travel Card." The campaign’s grand prize is a 7-day trip to Italy for two people.

To participate, customers must apply for a Mastercard World «Travel» card at Unibank by August 31, 2026 (inclusive) and make at least one purchase abroad using the card. The winner will be selected at random by September 20, 2026.

Mastercard World «Travel» is a multi-currency card that combines accounts in Armenian drams, US dollars, and euros. This allows cardholders to pay for purchases abroad in the corresponding account currency, making payments while travelling more convenient and cost-effective.

The card is designed for those who travel frequently and value comfort. Cardholders are provided with a wide range of privileges, including 6 complimentary visits to airport business lounges worldwide through the LoungeKey program for the cardholder and their guests, 6 complimentary Fast Track Pass services, 1 GB of internet roaming, as well as 24/7 concierge service.

The Mastercard World «Travel» card can be issued online or at any Unibank branch. When applying online, no card issuance fee is charged, and the annual service fee is charged only from the second year onwards.

Card delivery is provided free of charge to the customer’s specified address within Armenia.

The campaign is open to individuals aged 18 and over.

Customer Appreciation Day in Vanadzor: IDBank

Mon, 13 Jul 2026 17:42:00 +0400

Customer Appreciation Day, one of IDBank’s valued traditions, recently took place at the Vanadzor branch. The Bank always aims to be close to its customers, delighting them with pleasant surprises and bringing positive emotions to their day.

Seda Avagyan, Head of Customer Experience Management Unit at IDBank, highlighted the importance of such initiatives in the Bank-customer relationship.

“It is incredibly important for us to be close to our customers, both digitally and physically. Even as we expand our digital services, we still highly value face-to-face communication, aiming to provide every customer with a personalized approach throughout the service process. Thank you for choosing us,’’ noted Seda Avagyan.

Customers visiting the branch for their regular banking transactions were welcomed with a lucky wheel, offering the chance to win idcoins (1 idcoin = AMD 1), sweet treats, and a festive atmosphere that added a special touch to their visit.

According to Ashot Khojayan, Manager of Vanadzor branch, Customer Appreciation Day highlights the strong bond between the Bank and its customers.

“Every day we serve the residents of Vanadzor and surrounding communities with dedication and a high sense of responsibility. Customer Appreciation Day is a wonderful opportunity to thank them for their trust with some pleasant surprises. Our customers’ satisfaction and positive feedback are a reflection of our team’s hard work,’’ said Ashot Khojayan.

IDBank assures that surprises for the Bank's other branches are still ahead.

The bank is supervised by the Central bank of RA.

Early AI adopters set to dominate European banking market - Visa study

Mon, 13 Jul 2026 14:36:00 +0400

Artificial intelligence will fundamentally reshape retail banking by 2030, with early adopters set to significantly outperform laggards, according to a Visa survey of European industry players, Finextra.com reports.

But, a new study from Visa Consulting and Analytics, based on responses from 325 senior decision-makers across 17 European markets, shows that this disruption is only set to accelerate as banks move from experimentation to execution.

More than 90% of European banks already use some form of AI across their major business functions and 86% of respondents believe AI will reshape retail banking by 2030, with 61% expecting early movers to dominate their markets.

Almost half of banks continue to anchor investment around operational efficiency or employee productivity, while fewer than one in three cite customer experience or fraud prevention as their primary AI driver.

Where AI is applied makes a critical difference: organisations deploying it in high volume, real-time environments that improve customer outcomes - including real-time decisioning, fraud detection, and personalised services - are 40% more likely to achieve transformational gains, says the study.

By contrast, where AI is applied more peripherally - such as in product development or lending - its impact is more limited and tends to plateau sooner.

The research highlights how banks are taking distinct approaches to AI adoption, and how those choices are shaping outcomes. Around half of banks are what Visa calls “Efficiency Seekers”, focused mainly on cost reduction and operational efficiency. Nearly a third are “Trust Builders” prioritising AI investment around customer outcomes, while “Competitor Chasers” (15%) are investing in response to market pressure. A small group, “Compliance Keepers” (seven per cent), focus primarily on meeting regulatory requirements.

According to the report, “Trust Builders” stand out. They are more common among digital-first banks and are far more likely to say AI is improving customer trust, particularly through faster fraud detection and more personalised services. They also see stronger productivity gains, with 42% of employees saving two or more hours a week, compared to 28% among “Efficiency Seekers”.

The partner of Fintech section is

Europe's Competitiveness Bogeyman

Fri, 10 Jul 2026 22:30:00 +0400

Daniel Gros is Director of the Institute for European Policymaking at Bocconi University.

Daniel Gros

China looms large in trade-policy discussions everywhere, but the precise concerns vary. Whereas the United States has long regarded China as a destroyer of American industry and a geopolitical rival whose rise must be contained, Europe has been more concerned about the national-security implications of Chinese dominance in a few strategic sectors, such as rare-earth minerals. Recently, however, European policymakers have begun sounding more like their American counterparts, arguing that surging Chinese imports threaten domestic industry.

While China’s dominance in sectors like rare earths always had strategic implications for Europe, it did not mean much for European employment or output. And the competitive pressures European Union firms did feel from China were largely offset by European industry’s strong foothold within China.

This is now changing. European companies find it increasingly difficult to compete in the Chinese market, even if they are heavily invested there, while Chinese exports to Europe are surging. The EU’s bilateral trade deficit with China reached nearly €360 billion ($419 billion) last year—almost double that of the US—affecting many of Europe’s core industries, such as automobiles.

Chinese exporters are bolstered by vast government subsidies and policies focused on ensuring dominance in high-tech industries, compounding Europe’s frustration. Now, calls for European leaders to protect domestic industry from Chinese competition are growing louder, with even figures who have criticized US President Donald Trump’s tariffs advocating for Europe to respond to “unfair” Chinese subsidies with levies of its own.

It’s a politically potent argument, but it is not based on sound economics. Fairness does not factor into a rational economic policy. What matters is whether a given action—such as introducing tariffs or even disregarding World Trade Organization rules (because “others are doing it”)—would bring net benefits to the economy. And, in this case, the answer is no.

It might seem obvious that imposing a tariff on imports from China would give European industry a leg up against its strongest competitor. But this protection comes at a high cost. For starters, intermediate inputs comprise over 40% of total EU imports from China, meaning that tariffs would increase the costs of production throughout the European economy. A tariff on batteries, for example, would place considerable strain on producers of battery electric vehicles, imperiling the EU’s large trade surplus in the sector.

Image by: REUTERS

This surplus is important. Warnings that Chinese imports pose a threat to European automakers usually focus on the number of Chinese vehicles entering Europe, noting that China-made cars now account for 7% of car sales in the EU. But nearly 40% of the EU’s total car production is for export, and the unit value of European auto exports is twice as high as that of imports from China. This implies that export markets may account for up to half the value of production.

For the auto industry, like many others, success in export markets is necessary not only to survive, but also to retain technological leadership. For now, Europe is often exporting high-end differentiated products, which are not interchangeable with the imports China has to offer. But Europe’s advantage on this front is rapidly being eroded, as Chinese producers climb the quality ladder.

It is far from clear that tariffs would preserve European competitiveness against Chinese exports that can compete in global markets on price, standards, and innovation. In fact, recent data show that the key problem for Europe is not so much surging imports, but the weakness of extra-EU exports, which have been declining for four consecutive quarters (until Q1 of this year).

Tariffs might offer temporary relief to a few sectors, but they cannot restore technological leadership, industrial dynamism, or export competitiveness. Recent experience in the US reinforces this view: while Chinese exports to the US have fallen, this redirection of trade flows has not been accompanied by an American industrial renaissance. Production instead shifts to third countries, while higher input costs weigh on downstream industries.

Image by: REUTERS

The challenge for Europe today is not to shield itself from Chinese exports, but to remain competitive in spite of them. To this end, it should increase investment in innovation, pursue greater integration of the Single Market, work to lower energy costs, and pursue policies that strengthen its ability to compete globally.

Where China raises genuine security risks—such as through its dominance in critical minerals or other strategically important products—targeted measures like stockpiling, supply-chain diversification, and expansion of strategic reserves are justified. But these are exceptions. For the bulk of European industry, success will depend not on keeping Chinese products out, but on ensuring that European products are still in demand globally.

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

My Forest Armenia is a beneficiary of the "Power of One Dram" initiative in July

Fri, 10 Jul 2026 17:24:00 +0400

The June beneficiary of the Power of One Dram initiative was the Teach for Armenia Foundation, which works to ensure access to quality education for every child in Armenia, regardless of where they live.

A total of AMD 5,062,971 raised through the initiative will be allocated to the implementation of the Teacher Leadership Program. Thanks to this support, young professionals will receive specialized training and be placed in regional schools to teach in underserved communities and help improve the quality of education.

The July beneficiary is My Forest Armenia, an environmental non-governmental organization implementing large-scale afforestation and forest restoration projects across Armenia, contributing to the preservation of the country's biodiversity.

This year, as Armenia prepares to host the 17th Conference of the Parties to the Convention on Biological Diversity (COP17), individual participation in environmental protection initiatives carries particular significance.

According to Tatevik Vardevanyan, Head of Communications and Corporate Social Responsibility Programs at Idram and IDBank, expanding the country's green areas is a shared responsibility.

"Today, sustainable development is no longer a choice-it is a necessity. Through the "Power of One Dram" initiative, we work with our customers to create a greener and more sustainable environment by supporting long-term environmental programs and putting our ESG commitments into practice," said Tatevik Vardevanyan.

"Through the Power of One Dram initiative, we have already planted more than 52,000 trees across different regions of Armenia. This achievement also belongs to Idram and IDBank users. In the years to come, as these forests mature into sustainable ecosystems, they will strengthen our country and serve future generations," said Lilit Martirosyan, Deputy Director of My Forest Armenia NGO.

The Power of One Dram initiative continues to support impactful social, community, and educational projects. To become part of the initiative's good deeds, customers simply need to make payments via the Idram&IDBank app, the IDBanking.am and banking.idram.am online platforms, or Idram and IDBank payment terminals. For every payment made, the companies donate one Armenian dram to support socially significant initiatives.

IDBank and Idram are supervised by the CBA.

Become a Unibank shareholder and benefit from an attractive investment opportunity

Fri, 10 Jul 2026 11:39:00 +0400

Individuals and legal entities can acquire ordinary shares from Unibank’s new share issue until September 9, 2026, at a placement price of AMD 390 per share.

The total volume of the current share offering amounts to AMD 3.9 billion, while the minimum investment amount is AMD 1,014,000.

Unibank shareholders have the opportunity not only to benefit from the potential increase in the value of shares but also to receive dividends. Since Unibank’s IPO held in 2015, the value of the Bank’s shares has increased by approximately 70%. The amount of dividends paid to shareholders has also grown. Based on 2023 results, AMD 4.1 billion was paid to shareholders, while this figure reached AMD 7.8 billion based on 2024 results and AMD 9.3 billion based on 2025 results.

At the same time, Unibank is carrying out a special placement of AMD 9 billion worth of perpetual bonds exclusively for its shareholders, regardless of the class of shares they hold. The coupon yield of the perpetual bonds is set at 13.25% per annum for the first 36 months, making this investment instrument one of the most attractive offers available on the market. After 36 months, the yield of the bonds will be determined based on the government bond yield curve. Investors who are not Unibank shareholders may also acquire perpetual bonds by participating in the Bank’s ongoing share offering.

Depending on the volume of shares acquired, Unibank also provides its shareholders with premium-class Visa or Mastercard cards free of charge.

"Successful placements of Unibank’s previous share issues demonstrate investors' confidence in our long-term development strategy. The Bank’s free float has already exceeded 10%. This time, we have introduced a new hybrid investment offering for the Armenian market, enabling investors to combine Unibank shares with high-yield perpetual bonds. This model allows investors to diversify their investments more effectively and benefit from the advantages of both financial instruments. As a publicly traded company, we adhere to high standards of transparency and accountability, continuously creating long-term value for our shareholders," said Mesrop Hakobyan, Chairman of the Management Board of Unibank.

Unibank ended 2025 with a net profit of AMD 9.8 billion, demonstrating significant growth across key financial indicators. The Bank’s assets amounted to nearly AMD 400 billion. The loan portfolio increased by 32.5% compared to the previous year, reaching AMD 264.6 billion in 2025. The retail loan portfolio grew by 24%, while the corporate loan portfolio increased by 37%.

As of the end of 2025, the Bank’s liabilities amounted to AMD 343.6 billion. The portfolio of issued bonds grew by 70% during the year. Unibank continues investing in the development of digital technologies and artificial intelligence, building a modern financial platform that supports the Bank’s sustainable growth and competitiveness.

The international credit rating agency Moody’s Ratings has affirmed Unibank’s long-term local and foreign currency deposit ratings at B1, maintaining a stable outlook.

The share prospectus was registered by Decision No. 1/210A of the Chairman of the Central Bank of Armenia dated May 13, 2026. The program prospectus for perpetual bonds was registered by Decision No. 1/427A of the Chairman of the Central Bank of Armenia dated November 26, 2025, while amendments to the program prospectus were registered by Decision No. 1/228A dated May 22, 2026, and Decision No. 1/282A dated June 29, 2026.

Investors may obtain printed versions of the share and perpetual bond prospectuses, as well as accompanying documents, at Unibank’s Head Office and branches. Electronic versions are available on www.unibank.am.

IDBank warns of scam calls impersonating pension funds

Thu, 09 Jul 2026 17:29:00 +0400

There is a growing risk of scam calls targeting the most vulnerable category of citizens -pensioners.

The scheme relies on social engineering: criminals simulate calls from an official agency or companies managing pension savings, and under the pretext of an "accounting error", they attempt to gain access to the victims' money.

How the Scam Works: From "Recalculation" to Theft

The deception begins with an unexpected call: "An error was found during recalculation, you are entitled to a bonus payment, and we just need to confirm your details". Alternatively, they may use high-pressure tactics: "You were overpaid, you must return the money immediately, or your benefits will be frozen, and your account will be blocked".

The scammers then quickly switch the conversation to demanding action. They ask the victim to read out their passport or ID card number, the bank card number, where they receive their pension, and the SMS verification codes. In some cases, scammers lure victims to phishing websites that look exactly like official pension fund portals, prompting them to enter the required data there.

As soon as the criminals get the SMS code, they can log into the user's online account, change the password, take out loans in their names, or drain all available funds from their accounts.

Important detail:

To look convincing, scammers use the actual names of the companies managing Armenian citizens' pension accounts and may even fake their logos on messengers. Another dangerous tactic they use is number faking: a phone number resembling the official call center number of the management company may appear on the screen, tricking the person into trusting the call and not verifying the information.

The Legal Trap

The trap lies in the fact that the clients share the data and confirm the actions themselves. If a transaction is initiated by the account holder and verified via an SMS code, banking systems recognize it as legitimate. Once that happens, recovering the money becomes extremely difficult.

IDBank recommends:

• Hang up immediately. Legitimate pension funds and management companies never resolve recalculation or refund issues over the phone. Any call demanding that you "correct your details" is a scam.
• Call back yourself. Find the official number on the management company's website and call them directly. Do not call back the incoming number, even if it looks familiar.
• Never share SMS codes. No employee of a bank, pension fund, or government agency is authorized to ask for your one-time password, the three-digit code on the back of your card, or your online banking password.
• Do not click on links in messages. Check the address bar: official websites use the ".am" domain without any extra characters.
• Discuss this scam with your parents and elderly relatives. Generally, the older a person is, the more they tend to trust calls made on behalf of official authorities.

Remember: pension and social funds will never call demanding that you urgently "correct your data", nor will they ask for SMS codes or direct you to third-party websites. Any such call is a major red flag. Your funds remain safe as long as you do not provide third parties with access to them.

The bank is supervised by the CBA.

“The determined succeed:” Discussion by Mughnetsyan and Parikyan Law Firms

Thu, 09 Jul 2026 16:55:00 +0400

On June 19, a discussion on global business mobility, international investment opportunities – particularly in the United States – and investment-based immigration pathways was held in Yerevan. The event was initiated by Mughnetsyan & Partners Law Firm in cooperation with its U.S. partner, Parikyan Law Firm, and organized by AxelMondrian & Partners.

Banks.am attended the discussion and highlighted some of its key moments.

“15 years of experience – more than 10,000 legal cases and projects”

Edik Harutyunyan, Business Development and Communications Specialist, AxelMondrian & Partners, Discussion Coordinator

Today’s discussion is hosted by two respected law firms. Representing Armenia is Mughnetsyan & Partners Law Firm, with its Founding Partner Gnel Mughnetsyan and Managing Partner Tsoghik Muradyan. Representing the United States is Parikyan Law Firm, with its Founding Partner Kristine Parikyan.

Image by: Mediamax

Founded in 2009, Mughnetsyan & Partners has grown into one of Armenia’s leading full-service law firms. Over more than 15 years of operation, the firm has handled over 10,000 legal cases and projects. This firm delivers innovative and practical solutions to complex legal challenges by combining deep legal expertise with extensive professional experience. Parikyan Law Firm, based in the United States, specializes in U.S. immigration law. The firm provides comprehensive legal services to individuals and businesses seeking to live, work, invest, or establish operations in the United States.

Image by: Mediamax

It is no secret that when making business and investment decisions, entrepreneurs and investors primarily evaluate factors such as expected returns, potential risks, and the overall feasibility of a project. In recent years, however, investors – including those from Armenia – have increasingly taken into account the additional opportunities offered by the countries in which they invest. These may include more favorable tax and legal frameworks, greater global mobility, improved access to international markets, as well as pathways to residency or citizenship.

Today, we will explore these opportunities through the insights and experience of representatives from these two law firms.

Residency opportunity: “Escape tool” or additional means for business development?

Gnel Mughnetsyan, Founding Partner, Mughnetsyan & Partners Law Firm

The idea of global business mobility should by no means be interpreted as an “escape tool.” In today’s economic environment, it should be understood that economic and entrepreneurial activities can also be carried out beyond the borders of the Republic of Armenia, within the framework of a transnational approach, creating numerous opportunities for business expansion.

Gnel Mughnetsyan

Image by: Mediamax

Today, we see that entrepreneurs who have concentrated their capital in one place, within a single jurisdiction, face numerous challenges. The primary goal of today’s meeting is to show our partners that there are opportunities to decentralize capital, on the basis of which one can also obtain residency status while carrying out transnational entrepreneurial activities.

Why has the U.S. been and continues to be viewed by investors as the most attractive destination?

Tsoghik Muradyan, Managing Partner, Mughnetsyan & Partners Law Firm

Summarizing the experience of our partners, I would like to mention a few reasons why the United States has always attracted investors.

The first factor is business scalability and global reputation. When a company transfers its assets to the United States, it makes its brand more reliable and stable. This also opens new opportunities in relations with financial institutions.

Tsoghik Muradyan

Image by: Mediamax

Asset diversification is another significant factor, as the United States offers a stable economic and political environment, which has always been attractive to investors.

The third factor is the independent judicial system, under which property rights in the United States are protected as the highest value.

As mentioned, making investments and transferring assets can also lead to a certain legal status. In other words, by making an investment, you not only achieve a business outcome but also have the opportunity to obtain residency status.

“Making an investment alone is not enough to obtain residency status in the United States”

Kristine Parikyan, Founding Partner, Parikyan Law Firm

When investing in the United States, it is important to have proper planning from the very beginning. Setting clear goals is essential.

Today, several visa options are available to Armenian citizens. For example, the E-2 visa is one of the most common, based on the trade agreement between the United States and Armenia.

Tsoghik Muradyan and Kristine Parikyan

Image by: Mediamax

This type of visa allows you to obtain non-immigrant status if you invest more than $100,000. There is also the EB-5 program, which requires a larger investment and allows you to obtain a Green Card. Another option is the L-1 visa, intended for companies opening branches in the United States, which allows company managers or founders to relocate to the United States. Therefore, it is important to choose from the outset the option that best suits the company or the individual.

At the same time, it is important to understand that making an investment alone is not enough to obtain residency status, permanent residency, or citizenship. First, you need to demonstrate that your company is ready to begin operations and that you have employees in place.

“Can we get citizenship right away?”: stereotypes about the process

Kristine Parikyan, Founding Partner, Parikyan Law Firm

The first question we usually hear from clients is: “If we make a large investment, can we immediately obtain citizenship?” (smiles – ed.). Of course not. First, you need to obtain residency status, and only then can you talk about citizenship. In addition, you need to demonstrate the source of the investment, its legality, and undergo thorough checks of both the invested funds and the person making the investment.

Legal issues an Armenian company or individual interested in the U.S. market may face

Tsoghik Muradyan, Managing Partner, Mughnetsyan & Partners Law Firm

First of all, as my colleague mentioned, it is important to demonstrate the source of the invested funds. This process must be completely transparent.

Image by: Mediamax

The intellectual property sector is also an important consideration. If you have a registered trademark or another intellectual property asset in Armenia, you need to understand the mechanisms for protecting it in the international market as well. You should decide whether the company will operate under the same trademark and discuss this possibility with an American partner. The market is much larger, and a particular name may already be in use. Depending on the type of business, there may also be a need to relocate employees. Therefore, employment contracts, as well as all related formalities and regulatory requirements, should be clearly prepared.

Existing risks and “tempting” offers on social media

Kristine Parikyan, Founding Partner, Parikyan Law Firm

From an immigration perspective, the primary risk is, of course, denial. In particular, if an immigrant investor or another immigrant visa application (such as EB-5 or EB-1) is denied, the system records your immigration intent. This may later affect your ability to obtain non-immigrant visas (such as a B-2 tourist visa or other temporary visas), as applicants must be able to demonstrate that they do not intend to reside permanently in the United States.

Today, social media is full of inaccurate information and “tempting” offers that can create risks. The only way to avoid them is to work with qualified professionals who have many years of experience in the field of immigration law.

“Armenian business is interested in the U.S. market”

Tsoghik Muradyan, Managing Partner, Mughnetsyan & Partners Law Firm

Armenian companies are definitely very interested in the U.S. market. I can say this based solely on the number of clients who have approached us on this issue. Moreover, the circle of interested businesses is quite broad. We are being contacted by representatives of companies operating in many different sectors. This strong interest served as the basis for today’s discussion. We want to clearly inform our partners about the challenges they may face and the solutions available to them.

Success comes only to those who make decisions

Gnel Mughnetsyan, Founding Partner, Mughnetsyan & Partners Law Firm

We have talked about procedures, but the number one guarantee of success in any business is determination. Ninety percent of the people in this hall are truly determined, and together with our professional knowledge, we will be able to make the right decisions.

Gnel Mughnetsyan

Image by: Mediamax

I believe that if a person is able to make decisions, they will definitely be successful. The people gathered here today are decision-makers.

Yana Shakhramanyan
Photos by Emin Aristakesyan

A little corner of France in Hrazdan, with the partnership of Converse SME

Thu, 09 Jul 2026 14:43:00 +0400

A charming little corner, located in one of micro districts of Hrazdan, immediately catches visitors' attention with its distinctive atmosphere and French-inspired ambiance.

“Aznavour” Cafe-Restaurant, operating since 2025, stands out not only for its unique atmosphere but also for its bold concept: creating a leisure venue in Hrazdan inspired by the spirit of France.

Visitors are welcomed by a replica of the Eiffel Tower, while the interior and overall atmosphere are designed with French-inspired elements. The menu blends the elegance of French cuisine with local flavors, offering guests a truly distinctive dining experience.

“Aznavour” stands out from the surrounding cafes not only for its design. People come here not merely to enjoy a meal, but also to relax in a beautiful atmosphere while listening to pleasant music. The cafe-restaurant has ambitious plans for growth and expansion.

As in the establishment phase, its partnership with Converse Bank will continue to play a significant role in this journey. After all, every journey is far more enjoyable when you have a trusted partner by your side.

The financing was provided under the Converse SME product.

Idram is the general partner of the "Towards Conscious Parenting 2026" annual conference

Wed, 08 Jul 2026 14:50:00 +0400

Idram and the "Parenting Community" NGO are collaborating for the second year in a row, aiming to support families and contribute to shaping a more conscious and financially literate generation.

According to Tatevik Vardevanyan, Head of the Communications and Social Responsibility Programs Department at Idram and IDBank, these financial literacy courses have been organized for four years now within the framework of Idram and IDBank's social responsibility programs, aiming to raise financial literacy among children and adults.

The "Parenting Community" NGO has been working for years towards developing the culture of parenting, creating platforms for open dialogue with parents.

Mane Saroyan, co-founder and director of the "Parenting Community" NGO, emphasized that Idram not only financially supported the implementation of the "Towards Conscious Parenting 2026" annual conference, but also shared the organization's values and mission. According to her, equipping parents with knowledge, support, and practical skills is a crucial investment not only in the well-being of individual families, but also in the future of society.

During the annual conference, parents discussed the challenges of modern parenting, while during the financial literacy course, children learned how to save, manage their own money properly, and protect themselves against fraud.

The companies are supervised by the Central Bank of RA.

Armeconombank to Place New Tranche of USD-Denominated Bonds

Wed, 08 Jul 2026 09:41:00 +0400

From July 9 to December 9 of this year, Armeconombank will place new tranche of its USD-denominated bonds.

The USD-denominated bonds, with a total volume of USD 5 million, comprise 50,000 registered, uncertificated, coupon bonds with a nominal value of USD 100 per bond.

The bonds carry an annual coupon yield of 5%, with semiannual coupon payments. The circulation period is 36 months, and the maturity date is July 9, 2029.

Following the completion of the placement, the bonds will be listed on the Armenia Stock Exchange and will be quoted by a Market Maker.

E-copies of the Bond Program Prospectus (registered by the Central Bank of Armenia) and the Final Terms of the issue are available for download on the bank’s website. Hard copies may be obtained at the bank’s Head Office (23/1 Pap Tagavor St., Yerevan).

The bonds may be purchased by both individuals and legal entities via the AEB Mobile application and the AEB Online system, as well as at the bank’s Head Office or any branch, by submitting bond purchase application(s) in accordance with the established procedure.

The AEB Mobile application can be downloaded here.

Please note that:

• Coupon income paid on bonds listed on the Armenian Stock Exchange OJSC until 31 December 2027 is not subject to taxation.
• In accordance with the RA Law "On Guaranteeing Compensation of Bank Deposits of Individuals", funds attracted by the Bank through the issuance of registered coupon bonds are considered guaranteed bank deposits and are insured by the Deposit Guarantee Fund.

Armeconombank is supervised by the Central Bank of Armenia.

Polytechnic University Graduation Ceremony Held with the Support of Unibank

Tue, 07 Jul 2026 17:36:00 +0400

As one of the benefactors of the National Polytechnic University of Armenia (NPUA), Unibank supported the organization of the graduation ceremony for the University’s 93rd graduating class. The special guest of the festive event was the well-known singer Soso Pavliashvili.

Congratulating the graduates, NPUA Rector Gor Vardanyan noted that they will shape the history of the 93rd generation of the Polytechnic through their activities, values, and professional achievements, bringing new strength to the University’s large alumni community.

According to him, from now on the University considers them not only as graduates but also as partners, with whom it will continue to discuss issues related to the development of the University, as well as Armenia’s technological and scientific-educational progress.
The Rector also expressed gratitude to the University’s benefactors and partners for their continued support of educational initiatives, students, and the faculty.

Chairman of the Management Board of Unibank, member of the Board of Trustees of NPUA, Mesrop Hakobyan noted that the Bank, as one of the University's benefactors, will continue its long-standing and effective cooperation with the Polytechnic, supporting the University's development, educational initiatives, and the professional development of young specialists.

"At Unibank, we value the development of cooperation between education and business by supporting programs that contribute to the development of a knowledge-based economy, the training of competitive professionals, and the strengthening of the country's technological potential," emphasized Mesrop Hakobyan.

The Memorandum of Cooperation between Unibank and the National Polytechnic University of Armenia was signed in 2021. It is aimed at improving educational programs and their practical application in the business environment.

Within the framework of this cooperation, with the support of Unibank, the “Digital Banking” laboratory has been created and operates at NPUA, where modern educational programs are implemented for the purpose of training high-level specialists for the banking sector.

Converse Bank Completes the Placement of EBRD Bonds

Tue, 07 Jul 2026 16:18:00 +0400

The European Bank for Reconstruction and Development (EBRD), one of the world's leading international financial institutions with an AAA credit rating, and Converse Bank, one of the leading participants in the Armenian capital market, announce the successful completion of the placement of the EBRD's AMD-denominated bonds.

Converse Bank acted as the EBRD's key partner throughout the transaction, arranging the bond issuance and the guaranteed placement of the bonds.

The bonds, with a total nominal value of AMD 5 billion, were placed through an auction on Securities Placement Platform of Armenia Stock Exchange (AMX).

The issuance forms part of the EBRD's local currency funding program and aimed at expanding local currency financing and the development of Armenia's capital market.

Following the completion of the placement, the bonds will be submitted for listing on the AMX and the necessary procedures will be initiated to enable their eligiblity for repo transactions with the Central Bank of Armenia.

Converse Bank will also act as the Market Maker for the issuance, supporting the liquidity of the bonds in the secondary market and promoting active trading.

AMX: In the corporate bonds market trading volume increased by 129%

Tue, 07 Jul 2026 11:11:00 +0400

Armenia Stock Exchange (AMX) has summarized the trading activity for June 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 43․3 billion AMD. Meanwhile, 82 transactions were conducted on the secondary market, with a total volume of more than 33.3 billion AMD, which exceeds the figure for the same period of the previous year by 29%.

In the corporate bonds market, trading volume increased by 129% compared to the same period last year, reaching approximately 17.2 billion AMD. During the reporting period, 1862 transactions were concluded involving 202 corporate bonds listed on the exchange as of the end of June. During the current month, a corporate bond placement auction was conducted, with a total volume exceeding 2 billion AMD. This steady growth reflects healthy demand for corporate bonds.

The trade volume of equity reached approximately 213.3 million AMD and the market capitalization approximately 492.7 billion AMD. Compared to the same period last year, trading volume increased by 10% while market capitalization increased by 7.43%. A total of 290 transactions were concluded with shares.

The volume of REPO agreements has been more than 28.9 billion AMD. A total of 211 repo transactions were conducted in June, exceeding the same period last year by 398%.

On the AMX FX platform, 15 transactions were executed with a total volume of approximately 1.5 billion AMD. During the month, the exchange rate price ranged between 367.90 and 36․65 AMD.

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

The Power of One Dram and the Armenian State Symphony Orchestra Conclude the Forest Project Launched in Shirak

Mon, 06 Jul 2026 16:19:00 +0400

The Power of One Dram, My Forest Armenia, and the Armenian State Symphony Orchestra have concluded the Symphonic Forest project, launched in Shirak with the goal of planting 20,000 trees.

The project was wrapped up with the Symphonic Journey concert, with all proceeds from ticket sales dedicated to planting even more trees in the forest.

As part of the initiative, 15,758 trees have already been planted in Armenia's Shirak Province. Thanks to the support of more than AMD 12 million provided by the project's principal partners, Idram and IDBank, Symphonic Forest has become a reality.

According to Arsen Kdanyan, Director of Idram: "The idea behind Symphonic Forest has been fully aligned with our philosophy from the very beginning. We believe that small steps lead to meaningful change. At Idram, we are convinced that truly significant results are achieved by those who are willing to invest in the future with patience and consistency."

"Symphonic Forest is an investment in future generations, helping create a cleaner and greener environment for years to come. Over the past few years, we have planted more than 50,000 trees across Armenia as part of our environmental initiatives. Supporting projects like this is an integral part of our mission," said Mher Abrahamyan, Chairman of the Management Board of IDBank.

The uniqueness of Symphonic Forest lies in the arrangement of the trees, which mirrors the structure of a symphony orchestra.

"I am delighted that the Armenian State Symphony Orchestra initiated such a meaningful project by creating the Symphonic Forest in Shirak Province. Music and nature are both deeply important to us," said André Gumuchdjian, Founder and CEO of My Forest Armenia.

Sargis Balbabyan, Executive Director of the Armenian State Symphony Orchestra, emphasized the importance of launching this long-term initiative during the Orchestra's 20th anniversary concert season։ "We are truly excited that, together with Idram, IDBank and The Power of One Dram, our Orchestra has been able to launch a project dedicated to forest restoration and conservation."

Symphonic Forest is the result of a strong partnership united by a common goal: restoring Armenia's forests and preserving biodiversity. Because real investment is measured not by numbers, but by tangible, lasting change.

Idram and IDBank are supervised by the Central bank of the Republic of Armenia.

From Financial Adventures to Great Victories: The 4th Junius Financial Online Tournament Wrapped Up

Mon, 06 Jul 2026 10:40:00 +0400

Intense competition, new discoveries and meaningful fun: this perfectly captures the spirit of beloved Junius financial online tournament. After a short break, the tournament returned with its fourth round, which has now come to conclusion.

For about a month, 3rd to 8th-grade students competed against each other to test their knowledge of mathematics and finance.

The latest round of the tournament was concluded with a festive award ceremony. Participants, who successfully completed all 50 levels and collected the maximum number of crystals, received valuable prizes awarded by Idram, which were adapted to their respective age groups, like the game rounds:

Grades 3-4

1st place - Samsung Galaxy Tab S10 tablet,
2nd place - Fitbit Charge 6 Coral smart watch,
3rd place - Yerevan Park gift package for two.

Grades 5-6

1st place - Nintendo Switch OLED,
2nd place - Instax Mini SE camera,
3rd place - Adidas gift card.

Grades 7-8

1st place - Apple iPad 11 (2025),
2nd place - iSpace gift card,
3rd place - AirPods 4 earphones.

According to Tatevik Vardevanyan, Head of Communications and Social Responsibility Programs at IDBank and Idram, the Junius game, introduced in the Idram Junior app two years ago, aims to improve children's financial literacy through their favorite game-based format:

"We are happy to see that so many children participating in Junius today are learning through play. The competitions are announced periodically, and soon, on July 6th, we will announce a new tournament. Within its framework, 3rd to 8th-grade students will once again have the opportunity to participate and win various prizes in their respective categories, including iPads, tablets, AirPods, and other valuable gifts. Let me remind you that to receive a prize, the parent must complete verification in Idram, otherwise, the next verified participant in line will be recognized as the winner."

New financial adventures are still ahead, so download and complete your verification in the Idram Junior app to make sure you don't miss this new opportunity to gain knowledge.

The Idram Junior app is designed for users aged 8–16. It allows children to use cashless funds, make contactless payments, save money, and develop financial literacy, while giving parents the ability to monitor their children’s financial activities through a modern and secure tool.

Congratulations to all the participants! Always remember that regardless of your final ranking, the most valuable prize you can earn is knowledge.

The company is supervised by the Central bank of the Republic of Armenia.

Europe Needs the Digital Euro

Sat, 04 Jul 2026 00:04:00 +0400

Brian Judge is Research Director of the Program on Finance and Democracy at the University of California, Berkeley.

Brian Judge

After years of preparation, the EU’s three governing bodies—the European Parliament, the European Council, and the European Commission—are finally ready to begin formal negotiations on the digital euro. When they do, a project once conceived as a technocratic modernization of monetary infrastructure will become one of the most politically contested items on the bloc’s agenda.

The Commission and the European Central Bank (ECB) have described the digital euro as an effort to adapt fiat currency to the digital age. That framing, while incomplete, carried the project through the technical preparation phase. It will not carry it much further.

The digital euro is not merely a technical upgrade. It is a political project in the long tradition of European institution-building, and its success or failure will ultimately depend less on engineering than on whether Europe’s leaders are willing to defend it.

Resistance is likely to emerge from several directions. US President Donald Trump’s administration has adopted an openly hostile stance toward central bank digital currencies while promoting dollar-denominated private stablecoins. Russia will almost certainly treat the digital euro as another front in its hybrid war against Europe. And within the EU itself, Euroskeptics will seize on the project as proof of technocratic overreach and turn it into a magnet for conspiracy theories.

European policymakers have spent years laying the technical groundwork for the digital euro. They must now approach the political struggle over its future with the same rigor.

For nearly 80 years, Europe has pursued what the late British historian Tony Judt described as the construction of collective capacity to compensate for individual weaknesses. The European Coal and Steel Community, the common market, the single currency, the Schengen Agreement, and EU enlargement—each was an act of political will that helped turn the catastrophe of World War II into a durable system of shared institutions. Taken together, these efforts constitute one of the most successful political experiments in modern history.

But Europe’s decades-long integration project is under immense strain. As Russia continues to wage war on Europe’s liberal democracies, American security guarantees can no longer be taken for granted. Meanwhile, China is reshaping global trade in ways that pose an existential threat to Europe’s industrial base.

As German historian Kiran Klaus Patel has argued, the EU’s self-image has often outpaced its actual achievements. In practice, integration has been uneven, fueling resentments that far-right parties across the continent have exploited to gain power and undermine the European project.

For many Europeans, “Europe” registers less as a political community than as a distant abstraction—a source of regulations, constraints, and acronyms that rarely improve daily life. The freedoms European integration has delivered are real but easily taken for granted. The costs, by contrast, are concrete and easy to resent. Any political project sustained by elite consensus and treaty law would be inherently fragile.

At the heart of this fragility is what the late German philosopher Jürgen Habermas described as the “lure of technocracy”: the temptation to advance European integration through mechanisms that circumvent the democratic publics in whose name it is pursued.

The digital euro, conceived by experts in Frankfurt and Brussels, risks falling into the same trap, because decisions that are technically sound but poorly understood are easy targets for political attacks. A recent Bundesbank survey underscored the problem, finding that only 42% of Germans had heard of the digital euro, and just a quarter of those could accurately explain what it is.

Habermas, however, pointed toward a remedy: a shared European identity grounded in broad participation in common institutions. The digital euro could provide precisely that kind of shared experience. Most forms of European integration, from regulatory harmonization to fiscal rules, remain invisible to ordinary citizens. But a digital currency would allow hundreds of millions of Europeans—most of whom know little about the institutional mechanics of integration—to interact daily with the same payments system, using the same interface, wherever they are in the eurozone.

The single market has proved remarkably easy for American companies to dominate. About two-thirds of the eurozone’s credit-card transactions rely on Visa and Mastercard, and 13 of its 21 members lack a domestic alternative. Each transaction carries fees that function as a private tax on European commerce. The EU’s current push for strategic autonomy in defense, semiconductors, and cloud infrastructure means little if it does not extend to the payment systems that underpin Europe’s economy.

For a generation that has experienced integration primarily as a set of constraints, the digital euro could become a highly visible European institution that makes life easier. Few initiatives on the European agenda could demonstrate the tangible benefits of integration and cross-border cooperation as effectively.

Whether the coming years re-establish the European project for a radically reconfigured world or mark the beginning of deeper fragmentation may well depend on how the debate over the digital euro plays out. A united EU would remain a continental power uniquely committed to liberal democracy, human rights, and a sustainable future, while a fractured Europe would be far more vulnerable to external coercion.

The ECB cannot make the political case for the digital euro. The European Commission, national governments, and the European Parliament must do so. And they must be honest about what they are defending: the digital euro is not simply an effort to modernize the eurozone’s payments system; it is a European institution that happens to take the form of a payments system.

Policymakers must make that case clearly and forcefully. The digital euro must not become another technocratic artifact, imposed from above and widely distrusted. It must be a living expression of Europe’s highest ambitions.

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

EBRD to Launch AMD 5 Billion Floating-Rate Bond Offering in Armenia

Fri, 03 Jul 2026 12:38:00 +0400

The European Bank for Reconstruction and Development (EBRD) is set to launch a new AMD 5 billion floating-rate bond issuance in the Armenian capital market, reaffirming its commitment to supporting the development of local currency financing and deepening Armenia’s financial markets.

The bond placement is scheduled to take place on 7 July 2026 through an auction on the Armenia Securities Exchange (AMX).

Converse Bank has been appointed as the underwriter. As one of the leading participants in Armenian capital market, Converse Bank has successfully arranged and placed numerous corporate bond issues in recent years. The EBRD bond offering represents another significant milestone for the bank, highlighting its expertise in capital markets transactions and investment solutions.

The bonds will have a maturity of 36 months and will pay a floating coupon linked to the 6-month Treasury Bills yield. The coupon rate will be reset every six months, enabling investors to benefit from changes in the interest rate environment while maintaining a market-based return profile.

The issuance of AMD-denominated bonds by the EBRD is an important development for Armenian financial system. Such instruments contribute to the growth of the local currency capital market, support the development of long-term funding sources, and further strengthen the participation of international financial institutions in the domestic market. At the same time, investors gain access to securities issued by a highly rated international financial institution with a return linked to prevailing market conditions.

Following the completion of the placement, the bonds are expected to be listed on the Armenia Securities Exchange. In addition, the necessary procedures will be initiated to enable the bonds to be eligible for repo transactions with the Central Bank of Armenia. This is expected to further enhance the bonds’ liquidity and attractiveness in the secondary market.

Investors may participate in the auction through investment service providers that are members of the Armenia Securities Exchange.

For further information:

• +374 10 511 211
• investments@conversebank.am
• corpinvest@conversebank.am

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