"ARMSWISSBANK" CJSC champions Armenia’s economic ambitions — combining Swiss-backed expertise, strong governance, and innovative corporate banking to connect regional and global markets.
ARMSWISSBANK has created a niche in Armenia’s financial system. What defines its role today?
I am the Chairman of the Management Board and Executive Director of "ARMSWISSBANK" CJSC. About 20 years ago, I was invited by Vartan Sirmakes, a Swiss businessman of Armenian origin, to establish an internationally oriented bank in Armenia. While ARMSWISSBANK benefits from Swiss equity and expertise, it is a fully licensed Armenian bank — locally rooted and independently operated.
From the outset, we focused on corporate and investment banking, areas where Armenia previously lacked adequate services. Looking back, that decision proved right. We have become widely recognised as a trusted partner for institutional investors, a reliable arranger of capital-market transactions, and a leader in sustainable finance.
How do specialisation, innovation, and governance shape your strategy?
From the very beginning, we positioned ourselves as a specialised institution, deliberately choosing not to engage in retail banking. We were among the first to offer alternative financing solutions, including trade finance instruments such as bank guarantees, letters of credit, and international factoring. Strong risk management and helping clients navigate cross-border risks have always been core to our mission.
On innovation, we lead in both products and technology — introducing tools like factoring and project finance while investing in digital platforms. Yet in corporate banking, efficiency must be balanced with security: there are times we advance rapidly, and times when caution is essential. We are soon moving into a new headquarters, significantly larger than our current space, enabling us to expand our services and strengthen our technology infrastructure.
Our strategic priority remains full compliance with international standards. We strictly adhere to KYC and AML rules, undergo independent audits, and have expanded our correspondent network across Europe and the UAE to support evolving client needs and global connectivity.
What is your final message to Khaleej Times readers?
Welcome to Armenia. With relatively modest investments, it is possible to build scalable business models here and access new opportunities across neighbouring regions. Armenia can serve as a strategic entry point to surrounding markets — and ArmSwissBank stands ready to act as a reliable financial bridge. For more than 15 years, we have worked closely with international institutions, participated in global discussions, and aligned ourselves with emerging financial trends. We invite investors, innovators, and partners from the UAE and beyond to explore the opportunities Armenia offers.
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