Corporate Governance

• About us

ARMSWISSBANK is governed by the internationally accepted principles of corporate governance and best practices. Paying considerable attention to collective decision making, the bank has established functional committees and project teams, such as Credit Committee, Investment Committee, Assets and Liabilities Management Committee, Budgeting Commission (etc). The bank built its corporate governance system on the generally accepted principles of 'checks and balances', which is expressed with the application of the following provisions:

• Clear segregation of authorities and responsibilities
• Efficient cooperation between Shareholder, Board, Executive Management, Internal and External Auditors, which is stated incorporate code of conduct
• Existence of a reliable internal control system, which ensures continuous monitoring of the risks
• Collective nature of decision making in the most risk bearing spheres
• "Four eyes" principle application to the execution of transactions and risk bearing operations
• Availability of reliable reporting and information systems
• Preserving corporate conduct values
• Availability of a clearly formulated strategic program

The above mentioned principles have been reflected in the Charter of the Bank and in various Board approved documents.

Customer Policy

The Customer Policy sets up the principles of customer relationship management. To satisfy the clients' increasing demands, the Customer Policy requires providing the clients with tailor-made services of international banking standards, displaying personalized approach and periodically offering new services.
The "Know Your Customer" rules and personal managers ensure bank-client relationship transparency, clarity and acceptability, as well as enable saving client's time and create favorable environment.

Privacy Policy

The proper collection and maintenance of customer data are the hallmarks of client confidence and loyalty towards the bank. ARMSWISSBANK guarantees utmost secrecy of client data and discloses information only in cases stipulated by the Armenian Legislation.

Risk Management Policy

The Risk Management process is organized in accordance with the goals and objectives of the bank, and has the aim to effectively manage the bank's and it's Customers' risks. The purpose of the Risk Management process is of preventive nature: to predict and, if possible, avoid or minimize the possible risks instead of eliminating their consequences. Risk analysis is an inseparable part of ARMSWISSBANK's strategic and tactical planning, as well as of its investments appraisal process. For that reason there is a separate risk management division at the bank, performing continuous evaluation of the risks and daily control of the bank operations, supervising risk bearing transactions and monitoring the reliability of internal procedures.

Investment Policy

The bank's Investment Policy provides the basis for professional management and market driven return generation on both the Customers' and the bank's assets. The Investment Policy provides guidelines for investing in local and international markets according to the bank's long-term and short-term financial goals.

Lending Policy

ARMSWISSBANK's Lending Policy sets out the fundamentals of providing loans and other financing products to the primary groups of borrowers, the process of granting loans, supervision over the granted loans, and the principles of credit portfolio evaluation.

Human Resources Management Policy

The relations of ARMSWISSBANK with its employees are based upon the principle of long-term cooperation and mutual respect, as well as strict enforcement of bilateral obligations. The bank continuously affords the opportunity for professional growth of its employees and strives to foster an environment of positive social interaction.

Accounting Policy

The main objective of the Accounting Policy is the formation of complete and accurate information regarding the bank's financial performance. It also lays down the principles of asset supervision, as well as of the financial resources utilization.

Policy on Information Technologies

ARMSWISSBANK's Policy on Information Technologies is called to provide integrity of information, credibility, secure and trouble-free use of digital information, as well as the bank's unfailing technical performance. It also determines the principles of development of intrabank and interbank automated systems, international payment and financial systems, uninterrupted and efficient performance of networking and e-mailing systems.

Profit Policy

In accordance with "ARMSWISSBANK" CJSC's perspective development plan for years 2009-2011, no dividend payments have been stipulated from the anticipated profit for that period.

Performance evaluation of Executive Body of "ARMSWISSBANK" CJSC

Performance evaluation of Executive Body of "ARMSWISSBANK" CJSC, that is the Executive Director, is carried out by the Board on the basis of annual results of the Bank's activity, taking into account achievements and financial indicators of the Bank during the execution of strategic issues and mission.

Principles on operations with clients related with the Bank (in Armenian)

The Board’s decision on operations with clients related with the Bank (in Armenian)

Regulation on providing loans to the Bank’s employees (in Armenian)

Procedure on discussing complaints and applications (in Armenian)

Organizational Structure

Corporate behavior rules of “ARMSWISSBANK” CJSC (in Armenian)