What Ararat Bank does

ARARATBANK OJSC (Ararat Bank) is a publicly listed, full-service commercial bank headquartered in Yerevan, Armenia, founded in 1990 and operating through 49 branches and 132 ATMs with 1,081 employees serving approximately 260,000 customers. It offers a horizontally segmented suite of retail, SME, corporate, and agricultural banking products — including consumer and mortgage loans, overdrafts, EU-subsidized agricultural financing, term and comfort deposits, leasing via AraratLeasing, payment cards across Arca/Visa/Mastercard/Diners, international trade finance, and capital-markets services. Revenue is generated primarily through net interest income on a loan portfolio representing 55.3% of AMD 423,263 million total assets at year-end 2025, with net profit of AMD 11,705 million and total equity up 12.7% YoY.

The bank's distribution architecture combines physical branches with a digital stack: AraratMobile app, Internet Bank, Bank-Client system for corporates, and the ARARATBANK Trading Platform (ATP) for securities (including 0% SWAP leveraged share purchases). CashIn ATMs support ArCa QR and imID authentication, while Apple Pay and Google Pay, ArcaPay phone-number transfers, and ArcaQR merchant acceptance extend payment reach. International remittance partnerships with RIA, Moneytun, SWIFT, MoneySend, and others enable inbound diaspora flows from 25+ countries.

Ararat Bank's go-to-market is direct-to-consumer and direct-to-business, with subscription-style annual account fees for legal entities (AMD 5,000–25,000 depending on customer type) layered onto transactional take-rate fees for transfers and cash operations. Specialized propositions include EU-subsidized SME and agricultural loans with cashback, gender-smart finance (WEPs Signatory since 2022; 31% of SME lending to female entrepreneurs in 2025), and a 15+ year franchise as a leading corporate securities underwriter on the Armenia Stock Exchange (including placements for Garni Invest UCO, FINCA, and the National Mortgage Company).

Name

Ararat Bank

Legal name

ARARATBANK OJSC

Website

https://araratbank.am

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ararat Bank is a Yerevan-headquartered, full-service Armenian commercial bank founded in 1990, serving 260,000 retail, SME, corporate, and agricultural customers through 49 branches, 132 ATMs, and digital channels.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Retail banking services
• Commercial lending products
• International money transfers
• Payment card services
• Investment banking underwriting

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: The bank generates revenue primarily through interest income on its loan portfolio, which represents 55.3% of total assets as of year-end 2025. The loan portfolio includes consumer loans, mortgages, business loans, agricultural loans, and overdrafts for individuals and SMEs.
2. Deposit-Taking and Interest Expenses: The bank accepts customer deposits (term deposits, demand deposits, savings) paying interest to depositors, with term deposits standing at AMD 151,821 million at end of 2025.
3. Card Services and Transaction Fees: Revenue from card issuing (Arca, Visa, Mastercard, Diners) including interchange fees, annual fees, and cash withdrawal fees.
4. Money Transfer Services: Fees from international money transfers via RIA, Moneytun, SWIFT, and domestic transfer systems including ArcaPay and MoneySend.
5. Securities Issuance and Underwriting: Investment banking revenue from acting as underwriter and placement agent for corporate bond issuances. The bank has been recognized as a leading underwriter in Armenia's corporate securities market for more than 15 years.
6. Account Servicing and Maintenance Fees: Annual account maintenance fees for business customers: AMD 5,000 for resident legal entities and individual entrepreneurs, AMD 10,000 for non-resident legal entities, and various transaction fees for transfers and cash operations.
7. Leasing Services: Finance leasing for equipment, vehicles, and real estate through AraratLeasing product, with lease volumes increasing 41% in 2025.
8. International Trade Finance: Revenue from documentary collection, bank guarantees, and documentary letters of credit for import/export transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels10 records

Marketing channels7 records

Core offering

Ararat Bank is a full-service Armenian commercial bank providing retail banking (consumer loans, mortgages, deposits, payment cards), SME and corporate lending, agricultural financing, finance leasing, international money transfers, and investment banking services including securities underwriting on the Armenia Stock Exchange. The bank distributes these offerings through 49 branches, 132 ATMs, and digital channels including the AraratMobile app, internet banking, and the ARARATBANK Trading Platform for securities.

Product overview

AraratBank operates as a full-service Armenian bank offering an integrated suite of banking products through multiple delivery channels. The core platform consists of retail and business banking services including lending (consumer, mortgage, agricultural, business, and leasing), deposit products (term deposits, top-up savings, ARARAT-COMFORT, and children's accounts), payment cards (Arca, Visa, Mastercard, Diners Club), and international trade finance. Digital channels include AraratMobile app (with CashIn ATM services and QR authentication), Internet Bank, and the ARARATBANK Trading Platform (ATP) for securities. Money transfer services span ArcaPay, SWIFT, and international networks (Moneytun, RIA). The bank also provides investment banking through securities issuance and placement, custody services, and POS terminal services for merchants. Business banking includes specialized MSME lending, escrow accounts, and government bond operations.

Differentiator

Problem solved

Functional benefit

Brands

• AraratMobile: Mobile banking application for digital banking services available 24/7
• AraratLeasing
• ARARATBANK Trading Platform (ATP)

Products and services

• AraratMobile

Quantifiable outcome

• Net profit of AMD 11,705 million in 2025, with total equity growing 12.7% year-over-year
• +11 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature5 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Arca (Armenian Card)coreTechnology or Integration · 1 January 2025Partnership with Arca payment system for ArcaPay transfers by phone number, ArcaQR QR code payments, and Arca card issuance (Arca Gold, Classic, Moneytun, Pension, Child, Gift). ArcaPay offers 0% money transfer commission for AraratBank customers. Joint promotional campaigns offering trips and prizes.
• Urartu Football ClubcoreGTM or Marketing Partner · 1 January 2025One-year title sponsorship partnership combining finance and sports. Includes financial literacy sessions for children of bank employees and football club trainees, with AraratBank Board Member and Finance Lecturer conducting educational activities. Goal of holistic development of younger generation.
• VISAcoreTechnology or Integration · 1 January 2025International card network partnership for Visa card issuance (Visa Digital, Classic, Gold, Infinite). Received Visa Trusted Partnership Award 2025. Special promotional offers for Visa cardholders including travel promotions.
• Armenia Stock Exchange (AMX)coreStrategic or Co-development Partner · 1 January 2025Long-standing partnership as leading underwriter in corporate securities market for over 15 years. AraratBank supports companies entering the capital market through bond issuances and placements. The bank successfully placed bonds of Garni Invest UCO CJSC on AMX.
• BAFT (Bankers Association for Finance and Trade)minorOthers · 1 January 2025AraratBank became a member of BAFT Association, connecting with global banking and trade finance professionals.
• Commerzbank AGcoreStrategic or Co-development Partner · 1 January 2025Received STP Excellence Award from Commerzbank AG multiple times. Partnership involves SWIFT transfers and payment processing with AraratBank demonstrating exceptional straight-through processing quality.
• 4090 Charity FoundationcoreStrategic or Co-development Partner · 1 January 2025Five-year partnership (2021-2026) supporting war veterans and their families. Nearly five years of collaboration enabled 172 beneficiaries with over 100 projects. AraratBank provided financial support totaling approximately AMD 40 million. Partnership included charity mountain climb to 2,309 meters above sea level.
• Matenadaran (Mashtots Institute of Ancient Manuscripts)coreStrategic or Co-development Partner · 1 January 2025Long-term partnership since 2015 for preservation of Armenian manuscript heritage. Established laboratory for biochemical research of manuscripts, fully modernized security and video surveillance systems. Long-standing sponsor of annual international seminar bringing together 145+ organizations from around the world over 15 years.
• Aren Mehrabyan FoundationminorStrategic or Co-development Partner · 1 January 2025Cooperation to create new education platforms through AraratBank's social responsibility programs.
• Teach For ArmeniaminorStrategic or Co-development Partner · 1 January 2025Memorandum of cooperation signed to finance five Teacher-Leaders teaching across Vayots Dzor, Tavush, and Gegharkunik regions. Part of broader collaboration for educational development.
• UNESCOminorStrategic or Co-development Partner · 1 January 2025Co-funding 'Culture - My Way' project financed by UNESCO ensuring vocational training for people with disabilities and their support networks.
• Wonder Kid AcademyminorStrategic or Co-development Partner · 1 January 2025Supported creation of astronomical laboratory for children aged 7-18 at Wonder Kid Academy in Gyumri, providing state-of-the-art equipment for STEM education.
• From Simple to SimpleminorGTM or Marketing Partner · 1 January 2025Financial literacy podcast collaboration launching 'Simple Talks' series to make financial topics easier to understand through practical examples and clear explanations.
• RIA Money TransfercoreChannel Partner/ Reseller/ Distributor · 1 January 2008AraratBank has been RIA Money Transfer's Partner of the Year in Armenia for seven consecutive years (2019-2026). The partnership develops the RIA Money Transfer network across Armenia enabling international remittances to AraratBank customers.
• MoneytuncoreStrategic or Co-development Partner · 1 January 200610-year strategic partnership with Moneytun international fast money transfer system operating in more than 25 countries across 5 continents. Enables Armenian diaspora in EU and US to send money to Armenia with fast and convenient transfer and foreign exchange services. Under partnership, customers can receive fast money transfers from EU countries in AMD and euros directly to Moneytun cards. Moneytun celebrates its 20th anniversary in 2026.
• MastercardcoreTechnology or IntegrationInternational card network partnership for Mastercard issuance (World Travel, Digital, Standard, Gold, Business). Received Mastercard Excellence in Strategic Marketing Award 2025. Joint campaigns including 'You Choose the Destination' promotion with 5 travel packages for two.
• City of Smile FoundationminorStrategic or Co-development PartnerDonated proceeds from 'Armenian Legends and Poems' initiative to City of Smile Foundation, a children's cancer charity.
• Armenian National Philharmonic OrchestracoreStrategic or Co-development PartnerSponsorship of Belgian band Hooverphonic concert for orchestra's 100th anniversary. Part of proceeds donated to Yerevan Special School-Resource Center for Children with Hearing Impairments for music room renovation. Collaborated on making music accessible to children with hearing impairments.
• Central Bank of ArmeniacoreOthersARARATBANK is supervised and regulated by the Central Bank of Armenia (CBA).
• Deposit Guarantee FundcoreOthersIndividual deposits are guaranteed by the Deposit Guarantee Fund, covering up to AMD 16 million for AMD deposits and AMD 7 million for foreign currency deposits per depositor per bank.

Scale indicators22 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Bank of Georgia: Bank of Georgia is the largest Georgian bank and a regional Caucasus banking leader with full-service retail, SME, and corporate offerings. It serves as a regional comparable for banking scale, digital innovation, and investment banking in the Caucasus.
• HSBC Bank Armenia: HSBC Bank Armenia is the local subsidiary of global banking giant HSBC, offering corporate, trade finance, and wealth management services. It competes with AraratBank particularly in corporate banking, trade finance, and international money transfers.
• TBC Bank (Georgia): TBC Bank is a major Georgian universal bank with strong digital banking capabilities and regional Caucasus presence. While not in Armenia, it represents a comparable regional banking model with similar retail and SME lending focus.

Direct peers

• Ardshinbank: Ardshinbank is a major Armenian universal bank providing retail deposits, consumer and mortgage lending, SME financing, and corporate banking. It competes directly with AraratBank across the full Armenian banking value chain.
• Ameriabank: Ameriabank is one of the largest Armenian commercial banks offering retail, SME, corporate, and investment banking services. It is AraratBank's most significant direct competitor across all major business segments in the Armenian market.
• ACBA Bank: ACBA Bank is an Armenian commercial bank with strong agricultural lending heritage and a Credit Agricole partnership. It competes with AraratBank particularly in agricultural loans and SME banking.
• Converse Bank: Converse Bank is an Armenian commercial bank offering retail deposits, consumer loans, SME and corporate banking, and card services. It is a domestic peer competing in the same Armenian market with similar product breadth.
• InecoBank: InecoBank is an Armenian commercial bank providing retail deposits, consumer and business loans, and card services. It is a smaller direct peer competing for similar customer segments in the Armenian market.
• IDBank: IDBank (formerly Agricultural Cooperative Bank of Armenia) is a universal Armenian bank offering retail, SME, corporate, and digital banking services. It is a direct competitor particularly active in SME and digital channels overlapping with AraratBank.
• Armeconombank: Armeconombank is an Armenian commercial bank serving retail, SME, and corporate customers with deposits, lending, cards, and trade finance. It is a domestic peer with comparable service offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/araratbank_ojsc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ararat Bank