Araratbank to become a classic, digital and investment bank by 2020

Ashot Osipyan, CEO of Araratbank, announced his bank’s NewBank strategic development program which will transform the bank into a classic, digital and investment bank.

  • Within the classic commercial bank structure model, the bank intends to review its structure and work to improve the efficiency of banking products, branches and financial transactions.
  • In order to transform into a digital bank, Araratbank intends to stimulate digital services such as internet, mobile and telephone banking as well as increase the number of payment terminals and introduce virtual and electronic branches, UBER applications and NET-SPEND, among others.

By positioning itself as an investment bank, Araratbank will provide IPO and bond placement services as well as asset management, legal assistance and M&A transactions.