Armenian Development Bank

"Armenian Development Bank" OJSC is among the first commercial banks in the Republic of Armenia founded according to founding agreement signed on 14 September, 1990 however the bank actually started its activity in the fall 1991. Till November 1995 The Bank operated under the name of "Reconstruction and Development Bank". According to the license provided by RA Central Bank, the Bank is entitled and renders a wide variety of contemporary banking services, different types of property and resident and non-resident legal and physical persons representing different branches. Legal status of the Bank is Open Joint Stock Company (OJSC), authorized capital and emission income is 4,556,662 thousand AMD. The state doesn't have a share in the structure of capital.     

The cost per common share is 5500 AMD, per privileged share 700 AMD. 

The Bank was the first to provide individuals and legal entities in Armenia an opportunity to conduct transactions in international financial markets. The Bank is in close correspondent relations with most popular banks in the USA, EU countries and the Russian Federation.

The Bank has actively taken part in various international financial programs, particularly:

• In 1997-2001 the Bank funded the program of highways' reconstruction in Armenia implemented by the World Bank.
• In 1999-2002 American "Shorebank Advisory Services" jointly with the Armenian Office realized lending program of small and medium enterprise development.
• In 2000-2003 jointly with the World Bank and the International Agriculture development Agency it implemented crediting program for rural economies and processing industries.
• In 1999 the Bank was awarded informational transparency and a Certificate of Honor for cooperation with mass media by ARCA Agency.
• In 2001 it was awarded a diploma of "The best agent of RA internal state debt management" by the RA Central Bank and RA Ministry of Finance and Economy.
• In 19 November, 2001 in Paris the Bank was awarded "Gold Medal" by National industry support.
• In 2002 the bank was awarded a diploma of "The best agent in the RA state bonds market" by the RA Central Bank and the RA Ministry of Finance and Economy.
• In 2003 the bank was awarded a diploma of "The best agent of RA internal state debt management" by the RA Central Bank and the RA Ministry of Finance and Economy.
• In 2006 the Bank stepped onto a new development stage ensuring new management quality and working out a new policy of implementing perspective programs.
• In 31 July, 2006 the Bank joined Armenian Banks Association.
• In November 2008 a new edition of the Bank's Charter with enclosed corporate management norms was ratified during the Bank's stockholders' general assembly. Governing bodies of the Bank are as follows: stockholders' general assembly, Board of Directors and Executive Board. The Bank's governing bodies also include Consultative Council.
• In 2008 it joined Securities clearing system. You can get acquainted with the regulation on Securities clearing system in the following website: http://www.nasdaqomx.am/
• In 2009 the Bank reregistered as a member of Armenian stock exchange.
• The Bank also participates in the loan program for stabilization of German-Armenian Fund Economy, the refunding program of Mortgage loans of National Mortgage Company, affordable housing program for Young family by the "Housing for Young Families" UCO, renewable energy encouragement program of the German-Armenian Fund.

In recent years the Bank has mainly loaned programs connected with investments of Armenian economy development.  

The Bank operates in compliance with accounting international standards, automated system regime of banking accountings based on "AP AS BANK 4.0" program. As for 30 September, 2012 the Bank comprises 200 employees.